Question

Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money, transactions and event 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 Accontant of Pakistan

Answer 1

The correct option is C

American Institute of Certified Public Accountants

The American Institute of Certified Public Accountants (AICPA) had defined accounting as the art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof’. Hence, the correct answer is option (c).