ACCOUNTING
It is an art of recording,classifying and summarising the financial natured transactions and events in such a way. So as to get the meaningful information in future.
VARIOUS TERMS COMMONLY USED IN ACCOUNTING
- CAPITAL: It refers to the amount invested by the proprietor into the business
- DRAWINGS : Amount kept by the proprietor for the personal purpose or any amount withdrawn by the proprietor from the business for personal use
- GOODS : The commodity in which we deal on regular basis. The types are :
- Purchase A/c
- Sales A/c
- Purchase return A/c
- Sales return A/c
- Purchase A/c
- Sales A/c
- Purchase return A/c
- Sales return A/c
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