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Yogita Ingle 2 years, 7 months ago
Accounting as Science: Science is an organised body of knowledge based on certain basic principles. Therefore, accounting is also a science as it is an organised body of knowledge based on certain accounting principles.
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Jyoti Dugar 2 years, 9 months ago
Depreciation is the decrease in the monetary value of the tangible assets of the company due to use, wear & tear or obsolescence. Such depreciated amount is deducted from the gross profit of the company and is shown as an Indirect expense in the statement of profit and loss a/c of the company.
There are different methods in accounts for depreciation but most common are straight line and written down value.
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Yogita Ingle 3 years, 1 month ago
Book keeping is stated as the recording of day-to-day business transactions in the books of accounts. It involves identification of transactions of financial nature, recording them in the books of accounts and classifying them into the ledger accounts.
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