Which of the following is NOT a of accounting? (2024)

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Question

B

Preparation of balance sheet

D

None of the above

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Solution

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Correct option is A. Creating liabilities for an organization

The mainfunctions of accounting are to keep an accurate record of financialtransactions, to create a journal of expenditure, and to prepare thisinformation for statements that are often required by law. Creating liabilitiesis not an accounting function.

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Which of the following is NOT a of accounting? (2024)
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