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Recording of Transactions - 1 — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountRecording of Transactions - 13 Marks
Question
What is the object of preparing an account?
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Answer

The main objective is to keep systematic records:
  • To determine profits and loss.
  • To ascertain financial position.
  • To communicate the information.

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