Accountancy

Accounting is also known as the language of business

An employee dismissed from his job is an events which represent business transaction.

An owner withdrawing cash from his business for personal use is an events representing business transaction

Accounting can be viewed as an information system which has its inputs, processing methods and output.

Accounting is required in

A transaction is an exchange in which participant’s ____________ or __________ value.

Accounting measures the transactions in terms of -

The process of establishing the relationship between various items or group of items taken from Income Statement or Balance Sheet or both is known as

Maintenance of books of accounting which is often routine and clerical in nature-

The process of transferring the transaction recorded in the journal to respective accounts opened in Ledger is-