Question 24 of 26
Q.List any two functions of accounting
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2026Subjective· 2mImportance★★★★★
92% · 24/26 Questions
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Start your 14-day free trial to unlock the full solution →Two functions of accounting: measurement of business results/position, and communication of that information to users.
Functions of accounting (list any two):
- Measurement — accounting measures the past performance (profit or loss) and the current financial position of the business in money terms.
- Communication — it communicates the results, through financial statements and reports, to interested parties such as owners, creditors and government for decision-making. …
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