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Accounting is defined because the given that the art of recording, categorizing, and then summarizing in a noteworthy way with regard to transactions, income and activities that are of economic character, and comprehending the effects thereof.

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Accounting is focused on a sequence of methods that are to get executed properly. They're primarily recording, then summarizing, reporting, And eventually examining the financial transactions. Recording consists of documenting the revenues and getting into purchases and expenditures.

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