A firm has voluminous transactions and , therefore it records its transaction in cash book , journal and other subsidiary books. The firm follows financial yer for its accounts .It prepares its financial statements by April 15 every year .What does this indicate?

A firm has voluminous transactions and , therefore it records its tran

1.	A firm has voluminous transactions and , therefore it records its transaction in cash book , journal and other subsidiary books. The firm follows financial yer for its accounts .It prepares its financial statements by April 15 every year .What does this indicate?
Answer» Solution :It shows that the accounting staff is working as a TEAM .As a areuslt , in SPITE of many individuals working on separate books of account yet , the financial statement are prepared within ashort period after year end It SHOWN the value of team spirit , which means IMPROVED and synchronised performance by the accounting staff.

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A firm has voluminous transactions and , therefore it records its transaction in cash book , journal and other subsidiary books. The firm follows financial yer for its accounts .It prepares its financial statements by April 15 every year .What does this indicate?

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