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Conceptual Framework of Accounting — Accountancy STD 11 — Question

Tamilnadu BoardEnglish MediumSTD 11AccountancyConceptual Framework of Accounting2 Marks
Question
Write any two limitations of book-keeping.
✓

Answer

The limitations of Book-keeping are:
  1. Only monetary transactions are recorded in the book accounts.
  2. Effects of price level changes are not considered.

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