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Question

Book-keeping is mainly concerned with _________.


A
recording of financial data relating to business operations
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B
designing the system in recording, classifying, summarizing the recorded data
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C
interpreting the data for internal and external end users
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D
only for internal purpose
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Solution

The correct option is A recording of financial data relating to business operations
Book keeping is that branch of knowledge which tells us how to keep a record of financial transaction of a business. Book keeping is a clerical job. Book keeping is concerned with recording and classifying the data and accounting is concerned with interpreting and analysing of transactions.

Fundamentals of Accounting and Auditing

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