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Briefly explain the limitations of account

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Briefly explain the limitations of account

    • Posted by Anshu Yadav 8 years, 6 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers

    Yogesh Krishania 8 years, 6 months ago

    (1) accounting is not fully exact. (2) accounting does not indicate the realisable value. (3) accounting ignores the effect of price level changes.

    0Thank You

    Shivam Nigam 8 years, 6 months ago

    No record of qualitative information Based on personal judgement Suffer from Window dressing Based on historical cost concept

    0Thank You

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