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  • Accounts NB PDF

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    Daksh Halai
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    1) Accounting is a systematic process of recording, classifying, analyzing, and interpreting economic transactions and events and communicating the results. 2) The key aspects of accounting include maintaining a general journal, subsidiary journals, ledger accounts, trial balance, and final accounts. Economic transactions should be measured in monetary terms and involve an exchange. 3) Traditional classifications include assets, liabilities, capital, revenue, and expenses. Modern classifications include real accounts like assets and expenses, and nominal accounts like revenues and expenses.

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    1) Accounting is a systematic process of recording, classifying, analyzing, and interpreting economic transactions and events and communicating the results. 2) The key aspects of accounting include maintaining a general journal, subsidiary journals, ledger accounts, trial balance, and final accounts. Economic transactions should be measured in monetary terms and involve an exchange. 3) Traditional classifications include assets, liabilities, capital, revenue, and expenses. Modern classifications include real accounts like assets and expenses, and nominal accounts like revenues and expenses.

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    © All Rights Reserved
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    10 views7 pages

    Accounts NB PDF

    Uploaded by

    Daksh Halai
    1) Accounting is a systematic process of recording, classifying, analyzing, and interpreting economic transactions and events and communicating the results. 2) The key aspects of accounting include maintaining a general journal, subsidiary journals, ledger accounts, trial balance, and final accounts. Economic transactions should be measured in monetary terms and involve an exchange. 3) Traditional classifications include assets, liabilities, capital, revenue, and expenses. Modern classifications include real accounts like assets and expenses, and nominal accounts like revenues and expenses.

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