CUET Preparation Today
Codification of accounts is required for the purpose of : |
Hierarchical relationship between groups and components Faster data processing and preparing of final accounts Keeping data and information recorded Simplicity |
Hierarchical relationship between groups and components |
The correct answer is Option 1- Hierarchical relationship between groups and components There is a hierarchical relationship between the accounting groups and its components. In order to maintain the hierarchical relationships between a group and its sub-groups, proper codification is required to ensure neatness of classification. |
