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What do u mean by accountancy …

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What do u mean by accountancy . And how its work on business works .

Posted by Drift? Boi? 5 years, 6 months ago

CBSE > Class 11 > Accountancy

3 answers

Sheetal Kaushik 5 years, 5 months ago

accountancy is the process of identifying the business transactions , measuring them , recording ,. classification , summarising and interpretation and communication it helps the management in manking decision.

Drift? Boi? 5 years, 6 months ago

Thnx mam

Yogita Ingle 5 years, 6 months ago

Accounting is a process of identifying the events of financial nature, recording them in Journal, classifying in their respective ledgers, summarising them in Profit and Loss Account and Balance Sheet and communicating the results to the users of such information, <i>viz.</i> owner/s, government, creditors, investors etc.

According to the <i>American Institute of Certified Accountants</i>, 1941, “Accounting is an art of recording, classifying and summarising in a significant manner and in terms of money transactions and events that are, in part at least, of a financial character and interpreting the results thereof.”

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Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

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CBSE > Class 11 > Accountancy

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CBSE > Class 11 > Accountancy

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CBSE > Class 11 > Accountancy

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CBSE > Class 11 > Accountancy

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CBSE > Class 11 > Accountancy

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CBSE > Class 11 > Accountancy

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CBSE > Class 11 > Accountancy

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CBSE > Class 11 > Accountancy

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