What Are Its Characteristics?

1.	What Are Its Characteristics?
Answer» Accounting is the art of RECORDING and classifying different BUSINESS transactions. The business transactions may be completely or partially of FINANCIAL nature. Generally the business transactions are described in monetary terms. In accounting process, the business transactions are summarized and analyzed so as to ARRIVE at a meaningful interpretation. The analysis and interpretations THUS obtained are communicated to those who are responsible to take certain decisions to determine the future course of business.

Answer»

Accounting is the art of RECORDING and classifying different BUSINESS transactions.
The business transactions may be completely or partially of FINANCIAL nature.
Generally the business transactions are described in monetary terms.
In accounting process, the business transactions are summarized and analyzed so as to ARRIVE at a meaningful interpretation.
The analysis and interpretations THUS obtained are communicated to those who are responsible to take certain decisions to determine the future course of business.

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