113. Define Accounting. Explain any two limitations of Accounting.

1.	113. Define Accounting. Explain any two limitations of Accounting.
Answer» Accounting. EXPLAIN any two limitations of Accounting.Limitations of accounting are as follows: Accounting information ignores the qualitative elements: As accounting STATEMENTS are confined to monetary VALUES only, qualitative elements are ignored. Accounting information ignores the effect of price level CHANGES: Accounting statements are prepared at historical cost.Khadijah21

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Tois question based GISTBasie Prodquet? Gust Sales SupplyАB 2200150800118.00 to 20018.001 300 Intre statoI istrustile12.00 lo1120 Istrestaleb.Tabb Trade Details (sales and purchaseJitems opening stat I purchased sold closingo0104803oa) find out belowgiveoQuestionsCGST ,SGST , LGST final balance?1. use different lable for saleand purchas drade.Neft profit from the trade?closing stock valuations ?

113. Define Accounting. Explain any two limitations of Accounting.​

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113. Define Accounting. Explain any two limitations of Accounting.