Define accounting and briefly explain the accounting concept, Accounting Basics

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1. (a) Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.

(b) "Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account." Elaborate and explain why journal is necessary.

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“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

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