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Accounts Assignment Help Sample

Q1: What are Debit and Credit?  

Answer: A debit is an accounting entry that improves an asset or expense account or reduces a liability or equity account. It is located on the left in an accounting entry.   A credit is an account ...

Q2: Role of accounting in business and its importance

Answer: Accounting provides clarity in business, which helps make the right decisions based on expenses, tax liabilities, and cash flow. Through "accounting" is generated three critical financial st ...

Q3: Who Needs Accounting?

Answer: Any business has gross receipts of more than Rs. 1.5 lakhs in the last three years of the current profession should maintain a record of financial transactions following the golden rules of accounting ...