The following are the objectives of double entry
book-keeping system
a)To keep the complete records of every financial
transactions systematically and scientifically
b)To ascertain the profit and loss of the organization
d)To provide information about the financial position of the
business.
e)To provide specific technique to reveal the accounting
errors and specify proper method of rectification
f)To provide appropriate financial data for comparison
g)To facilitate rational decision-making by providing
appropriate financial data at appropriate time
Double entry Book-Keeping is a system by which every debit entry is balanced by an equal credit entry.
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