what do u know about accountancy and book keeping?

Question Posted / guest

Answers were Sorted based on User's Feedback

what do u know about accountancy and book keeping?..

Answer / h.r. sreepada bhagi

'Accountancy' is an art of recording the business
transactions in a systematic manner to enable preparation of
Statement of Income (Or Profit & Loss A/c to know the
profits earned or Loss incurred) for an accounting period
and of Balance Sheet (Statement of Assets & Liabilities to
know the position) as at the end of that Accounting period.
Book Keeping refers to preservation of Accounting documents,
vouchers, bills, registers, books, etc in an organised
manner to enable verification, audit, reference in future.

In the present day scenario, transactions are not recorded
and maintained in physical registers (books) but maintained
in electronic forms (Computerised Accounting)

Is This Answer Correct ?

7 Yes

1 No

what do u know about accountancy and book keeping?..

Answer / ajaykumar

Accountancy includes both accounting and bookkeeping,accounting is the ascertain of financial position of organisation and financial transactions.booking is a art of recording transactions and financial documents in a systammatic manner...

Is This Answer Correct ?

0 Yes

1 No

Post New Answer

More Accounting AllOther Interview Questions

How do u show Drawings In Trading Account ?

8 Answers

What is vlookup?How it is prepared?

2 Answers

EXPAND___________JPEG

2 Answers

What is Accrual (Mercantile Vs Cash System of Accounting)