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Standard XI
Accountancy
Question

Which of the following is/are NOT the advantages of accounting?
  1. Protecting and controlling strategic policy formulation
  2. Preparation of financial statements
  3. All of the above
  4. Comparison of results

A
All of the above
B
Preparation of financial statements
C
Protecting and controlling strategic policy formulation
D
Comparison of results
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Solution
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Accounting has certain limitations too. It helps only by providing the information based on the facts and figures recorded in the business for the purpose of preparing financial statements.
Accounting does not provide any help in protecting and controlling strategic policy formulation.

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