The main purpose of accounting is to ascertain profit or loss during a specific period to show ...........

Accountancy (Phase -I & II) Introduction to Accounting

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The main purpose of ------------------ accounting is to ascertain profit or loss during a specific period, to show financial position of the business.

financial accounting .

cost accounting

management account.

human resource accounting.

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Explanation:

Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.

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