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The basic objective of accounting is to maintain the records of daily business transactions carried out by the company to give a true representation of the state of affairs, including position of assets and liabilities at the end of the financial year.If no accounting is done, the business will operate in a hapazard manner like a race horse with both eyes covered. Without proper accounting, no business house can survive in this era of stiff competition.

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12y ago
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12y ago

An objective of accounting is to keep records of the financial position and activities of the organisation which provide a true and fair view.

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Q: What are the objective of accounting?
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