Question

Accounting is "the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof". This definition is given by ______________________.

• A. The Institute of Chartered Accountant of India (ICAI)
• B. The Institute of Chartered Accountant of England
• C. American Institute of Certified Public Accountants
• D. The Institute of Chartered Accountant of Pakistan

Answer 1

The correct option is C American Institute of Certified Public Accountants

American Institute of Certified Public Accountants has stated that Accounting is "the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof".