Define accounting, Financial Accounting

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Question 1 Define Accounting. Briefly explain the ‘Entity Concept' and ‘Money Measurement Concept' of accounting
Question 2 What is rectification of errors? List and explain the stages where the errors are deducted for rectification
Question 3 Explain the various steps in financial planning
Question 4 What is inventory management and explain the following

  1. Economic Order Quantity
  2. Reorder Point

Question 5 Explain the different steps involved in preparation of Fund Flow Statements
Question 6 What is cost? Discuss the factors involved in estimating the cost


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