Solution:-
The main objectives of accounting is given below-
1• To keep systematic record of business transactions:– The objective of the accounting is to keep complete record of all transactions .The proper record help a company to reduce the chances of mistake.
2• To calculate profit or loss :- In the accounting we keep complete record of all transactions which helps a company to find out total profit and loss of a company. For find out profit a company use trading profit and loss to calculate profit. In the trading profit and loss account all sales, purchases, recorded.
3• To Prevent and detect errors and frauds:- The objective of accounting is to prevent and detect errors . During the year every company facing many error while recording transactions with the help of accounting a company can prevent and detect these errors.
4• To provide informations to various parties:- The other objective of accounting is to communicate and give information to various parties like banks, creditors, investors , employees etc.