P1 C1 Accounting and Its Terminology — Account STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C1 Accounting and Its Terminology1 Mark
Question
Write the main advantages of Accounting.
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Answer
Following are the main advantages of Accounting. $(1)$ Accounting information is easily available. $(2)$ Financial status /economic status is can be known easily. $(3)$ Valuation of business, tax planning, comparision with past operations etc is easily possible with the help of accounting.
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