Question

Importance and utility of Book-keeping is _________ .

• A. Help in future reference
• B. Knowledge about Financial status
• C. Help in comparison
• D. All of the above

Answer 1

Answer: (D)

All of the above

Bookkeeping is the organization of financial information. Keeping your financial records organized makes it easier to locate and provide to appropriate parties. Bookkeeping is important because it helps with business analysis. It is a tool used by management to analyze business performance. It helps in taking the financial decision and comparison between the two firm also.