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Why is accounting done?
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Answer / solangee walker
Accounting is done so that a business can make proper decision and know if they are profitable.
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Answer / bindiya kushwaha
Accounting is done to make financial decisions and to provide information about the company to the outsiders.
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Define the term material facts in accounting?
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X draws a bill on Y for Rs 20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs 100. At maturity the bill return dishonoured. In the books of X, for dishonour, the bank account will be credited by Rs. (a) 19,900 (b) 20,000 (c) 20,100 (d) 19,800
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