Define and describe an accounting system.
Accountancy is considered as a professional field, which provides the methods or technologies which should be used by the accountants for accounting business transactions effectively. It helps in making accounting records more reliable and trustworthy.
Answer and Explanation: 1
An accounting system is the one which helps the company in maintaining an effectual record of all the operating and financial transactions of the...
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fromChapter 1 / Lesson 23
Learn about the accounting cycle. Understand what the accounting cycle is, learn the purpose of the accounting cycle, and identify the accounting cycle steps.