Vidyalelo
Commerce · Q32

Accounting

Graduate and Post Graduate · Commerce · question 32

Q32

Bookkeeping mainly consists of which part of accounting process?

A.
Analysing
B.
Preparing financial statements
C.
Recording financial information
Answer
D.
Auditing the books of accounts

Answer: Option C

Solution

Answer: Option C
Solution:
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Bookkeeping refers mainly to the record-keeping aspects of financial accounting, and involves preparing source documents for all transactions, operations, and other events of a business.