What are the objectives of book-keeping?

1.	What are the objectives of book-keeping?
Answer» The main objectives of book – keeping are: 1. To have a complete and permanent record of all business transactions in chronological order and under appropriate headings. 2. To facilitate ascertainment of the profit or loss of the business during a specific period. 3. To facilitate ascertainment of financial position. 4. To know the progress of the business. 5. To find out the tax liabilities. 6. To fulfill the legal requirements.

Answer»

The main objectives of book – keeping are:

1. To have a complete and permanent record of all business transactions in chronological order and under appropriate headings.

2. To facilitate ascertainment of the profit or loss of the business during a specific period.

3. To facilitate ascertainment of financial position.

4. To know the progress of the business.

5. To find out the tax liabilities.

6. To fulfill the legal requirements.

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