Definition of Respiration in Biology

The organism requires energy to perform their activities. This energy is obtained by metabolizing the food that they eat. This process is called respiration.

Significance:

The energy is utilized during life activities. No organism can perform these activities without energy. Hence if there is no respiration there will be no energy and no life. Therefore for survival and to perform these activities respiration if very necessary.

These users need information that is objective, consistent over time, and comparable to information supplied by other companies. Thus financial accounting statements adhere to certain standard formats and are prepared according to Generally Accepted Accounting Principles (GAAP) that have been established and agreed on by the accounting profession over many years.