What is accounts?? what are the purpose of accounts??

Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing the financial position, and aid in decision making with financial data and information about the business.

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the arrangement by which a bank, post office, etc. looks after your money for you

The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business.

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