The difference between book keeping and accounting is that while
FINANCIAL
JAMB 2016
The difference between book keeping and accounting is that while
- A. book keeping interprets data, accounting records it
- B. book keeping is regarded as the language of the business accounting ascertians its strength and weakness
- C. book keeping records data accounting interprets it
- D. book keeping summaries information accounting communicates it
Correct Answer: C. book keeping records data accounting interprets it
Explanation
In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data.
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