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To take money from everyone to fund things that are for the society as a whole.

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Briefly discuss the primary limitations of ratio analysis as a technique of financial statement analysis?

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Briefly discuss about histoty of auditing?

The history of auditing can be traced back to ancient civilizations, where early forms of financial oversight emerged to ensure accuracy and integrity in trade and taxation. In ancient Egypt and Mesopotamia, officials were appointed to review financial records and transactions. The modern concept of auditing began to take shape during the Renaissance, particularly in Europe, as commerce expanded and the need for accountability grew. By the 19th century, formalized auditing practices developed alongside the rise of corporations, leading to the establishment of professional accounting bodies and standardized auditing procedures.


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Classification of cost is where expenses are divided into categories that include variable costs, fixed costs, material costs. These costs relate to business activities.

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