Financial accounting is concerned with recording of _______________.

Business expenses and revenue

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Costs of products and services

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Day to day business transactions

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None of the above

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Solution

The correct option is C Day to day business transactions
Accounting is the art of recording, classifying and summarizing all the transactions of monetary value in a significant manner to identify the end result.
In the recording step, day to day transactions is recorded in chronological order.
Firstly, the transactions are recorded in the journal. Journal is also known as the book of primary entry.

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