18. Which of The Following Is Not the Advantage of Accounting?
(a). Facilitates Settlement of Tax Liabilities
(b). Comparative Study
(c). Based On Accounting Concepts
(d). Helpful In Decision Making
(a). Facilitates Settlement of Tax Liabilities
(b). Comparative Study
(c). Based On Accounting Concepts
(d). Helpful In Decision Making
Answers & Comments
Answer:
(c). Based On Accounting Concepts
Explanation:
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Verified answer
Answer:
(C) Based On Accounting Concepts
Explanation:
Accounting helps individuals and businesses accurately calculate and report their income, expenses, and financial transactions, which is essential for complying with tax laws and settling tax liabilities, and it allows for the comparison of financial data over different periods and with other entities. This comparative study helps in assessing performance, trends, and financial health. It also provides financial information that is crucial for decision-making. It helps individuals, businesses, and organizations make informed choices about investments, operations, and resource allocation.