Accounting is the study of all the financial activities of a person or organization that can be properly recorded in the book of accounts, and its exact result can be determined at the end of a certain period. Accounting discusses the methods of recording, classifying, and interpreting financial transactions of a business. As a result, changes in the financial position of the business organization can be detected and this information will help the business organization to make various decisions. Various accounts and reports are prepared using the knowledge of accounting,…
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