What is a transaction? What use does the accountant make of transactions? Why?

Q: How many types of business transactions are there in accounting?

A: Accounting exchanges are those exchanges that legitimately influence the financial statements of a…

Q: How does the time period assumption affect an accountant's analysis of business transactions ?

A: Time period assumption state that business organizations are required to prepare and present their…

Q: What are the basics of Accounting?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: how does accounting work?

A: Accounting is the method of recording all the financial transactions of the business. This process…

Q: What is the primary purpose of an accounting system?

A: the primary objective of accounting is to record the financial transactions in the books of…

Q: What does the accounting equation show?

A: An accounting equation shows the relationship between Assets, Liabilities and Equity of a entity. It…

Q: Analyze the effects of transactions on the accounting equation

A: Accounting equation:   Accounting equation is an accounting tool expressed in the form of equation,…

Q: what is accounting?explain it.

A: A business needs quantitative record of its over financial performance and financial position in…

Q: What are the process of accounting?

A: The question has covered the concept of the process of accounting.

Q: What do the decisions based on accounting information include?

A: Accounting information is the collection and processing of the business transaction to conclude the…

Q: what is real account ?

A: There are three types of accounts that are used in accounting: 1. Personal 2. Real 3. Nominal Real…

Q: What is the purpose of an accounting system?

A: Accounting is an art of systematic recording, classifying and summarising financial transactions…

Q: Tell me Features of accounting?

A: Accounting process starts with the process of maintaining books of accounts. Relevant business…

Q: What is accounting? Explain and discuss the accounting standards and assumptions.

A: Accounting is the process of identifying, recording, summarizing, analyzing, interpretation and…

Q: What is the main fundamental operation in Accounting? Explain the process

A: Accounting: Accounting is the practice of keeping track of a company's financial activities.…

Q: What is the accounting cycle?

A: Accounting cycle means the process of collecting, processing and reporting of the financial…

Q: how you will use accounting information both as an internal and an external user?

A: The accounting is a process to classify and record the business transactions and prepare the…

Q: Who are the users of accounting information?

A: Users of accounting information means the stakeholders that will use the accounting information for…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: What are the Elements of the accounting equation? Describe about it.

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by…

Q: What is accounting information?

A: Solution:- Accounting information means as follows under:-

Q: What mean accounting information?

A: The basic concept of Accounting is to Record the transaction which was pertaining in the…

Q: W

A: According to AICPA, "accounting is an art of recording, classifying, summarizing in a significant…

Q: What is the purpose of accounting?

A: Accounting is the process of recording the financial transactions and events of a business. The…

Q: How do you maintain accounting accuracy?

A: Maintaining accuracy in the accounting records is an essential requirement for every entity involved…

Q: What are the roles of transaction in accounting?

A: The transactions are the business events that can be measured in monetary form.

Q: What is an accounting system for?

A: Accounting system basically refers to the way of maintaining the books of accounts. It is an…

Q: efine what is accounting? How accounting used in our daily activities? What is the nature of…

A: Accounting has emerged as a subject for students that can be used in wide range of activities, say…

Q: How reported accounting numbers can affect an individual's perceptions and actions.

A: Financial reporting means releasing the financial reports of the company to its shareholders and in…

Q: What is the business activity that's occurring for the customer? Describe the transaction in…

A: Companies sometimes issue cheques for the Payment of certain expenses and to the Payment of their…

Q: Why do people care about accounting?

A: This question discusses accounting.

Q: what is the accounting equation?

A: Accounting: It is defined as a process of gathering, recording, summarizing, analyzing, and…

Q: Why is accounting described as a service activity?

A: The activities that are carried out with a view to assist the organisation in the delivery and…

Q: What is the meaning of accounting?

A: Bookkeeping refers to the way of recording day-to-day business transactions and information.…

Q: The collection and observation of accounting data was related to what?

A: generally, accounting starts with the collection of data. observation of data is done while making…

Q: How important is the accounting?

A: Businesses require a system that can help in measurement and evaluation of different financial…

Q: What do accountants mean by the term revenue?

A: Revenue is the sum that a corporation earns from selling products and/or supplying its clients and…

Q: What is accounting explain briefly?

A: Accounting means the process of recording the transaction , posting , summarizing , interpreting and…

Q: So, what exactly is the purpose of an accounting system?

A: solution accounting system                 Accounting system in general refers to the system which…

Q: What is the function of the Accounting Information System in current accounting?

A: Accounting Information Systems are the systems that help the organizations to record their…

Q: What are the steps used when analyzing a business transaction?

A: