Book Keeping: Book Keeping is mainly concerned with record keeping or maintenance of books of accounts. The maintenance of books of accounts includes the following four activities: Identifying the...
A while ago, we studied Financial Statements. The definition of Financial Statements is reproduced here: “Financial Statements” is a summary report that shows how a Business has used the...
As we know the golden rule of accountancy includes three accounts, which are used to make journal entries. 1. Personal A/C Debit the receiver credit the giver 2. Real A/C Debit what comes in Credit...
Questions: Define Accounting. Ans: Accounting is defined as the systematic process of identifying, recording, classifying, summarising, interpreting and communicating information about financial...