7 years ago in Basic Accounting

Choose the correct statement

[A] Keeping systematic recording of business transaction is not the function of financial accounting
[B] Accounting is concerned with monetary transactions
[C] Accounting is concerned with past as well as future events
[D] Business and Businessman are one and the same from accounting point of view
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Brian Richard Diaz
Brian Richard Diaz - 4 years ago

Brian Richard Diaz from Bagong Nayon, Philippines is saying Accounting is concerned with monetary transactions is correct answer

GOPAL KALITA
GOPAL KALITA - 4 years ago

GOPAL KALITA from Guwahati, India is saying Business and Businessman are one and the same from accounting point of view is correct answer

Aayesha K
Aayesha K - 4 years ago

Aayesha K from Pune, India is saying Accounting is concerned with past as well as future events is correct answer

Baby
Baby - 4 years ago

Baby from Giridih, India is saying Accounting is concerned with monetary transactions is correct answer

Shagun Bakshi
Shagun Bakshi - 4 years ago

Shagun Bakshi from Delhi, India is saying Accounting is concerned with monetary transactions is correct answer

Related Questions

Accounting is also defined as an 'Information System' because ?

  • [A] The function of accounting is to provide quantitative information,primarily financial in nature about economic entities
  • [B] It is a system which provides information
  • [C] Accounting provides required information for anyone seeking it
  • [D] All of above

......... of American Institute of Certified Public Accountants enumerated the functions of Accounting ?

  • [A] Accounting Principals Board
  • [B] Accounting Standards Board
  • [C] Accounting Concepts Board
  • [D] None of above

Accounting is defined as ?

  • [A] An 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.
  • [B] A systematic and regular record of events clear financial picture
  • [C] A method of ascertaining profits & loss
  • [D] Noting but book keeping

Management Accounting

  • [A] Is a clerical work
  • [B] Is accounting for future
  • [C] Is a recording technique of the management related transactions
  • [D] Is an analysis of the past business activities