introduction to financial accounting

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book PDF financial accounting bcom 1st year Hindi mediaum

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Answer 1

Hello aspirant,

Financial accounting is a type of accounting that keeps track of a business's financial activities. The transactions are documented, summarised, and presented in a financial report or financial statement, such as an income statement or a balance sheet, using specified rules.

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introduction to financial accounting

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Question : Statement 1: In management accounting, data from cost accounting and financial accounting are both used.
Statement 2: Therefore, a suitable system is required to combine cost accounts and financial accounts.