Question 10 of 26
Q.Which one of the following is not the main objective of accounting ?
(a) Ascertainment of the financial position of the business.
(b) Systematic recording of transaction.
(c) Solving tax disputes with tax authorities.
(d) Ascertainment of the profitability of the business.
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2022MCQ· 1mImportance★★★★★
38% · 10/26 Questions
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Start your 14-day free trial to unlock the full solution →Solving tax disputes with tax authorities is not a main objective of accounting — option (c).
The main objectives of accounting are:
- Systematic recording of business transactions in the books.
- Ascertaining the profitability of the business (profit or loss) by preparing the Trading and Profit & Loss account.
- Ascertaining the financial position of the business by preparing the balance sheet.
- Providing information to users and assisting in decision-making. …
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