The basic function of financial accounting is to

Asked by admin @ in Accountancy viewed by 487 People

basic function of accounting is to (a) recording all buisiness transaction (b) interpret financial data (c) assist the management .(d) non of these​

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Answer:

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Explanation:

Accounting is an art of recording, classifying, summarizing and interpreting the data in a significant manner of money's worth business transactions. All these functions start with recording of data. Without recording of transactions, all other functions can not be performed. So, the basic function of financial accounting is to record all business transactions.

The prime function of accounting is to interpret all such business transaction. It plays an important role in providing appropriate information to the business for decision making. 


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