CBSE Class 11-commerce Answered
Write any three objectives of book keeping
Asked by Varshadevaraj2007 | 20 Feb, 2020, 05:36: PM
Expert Answer
Book Keeping:
- According to R.N. Carter, “Book keeping is the science and art of recording correctly in the books of account all those business transactions that result in the transfer of money or money’s worth.”
- It is a part of accounting and therefore, involves identification of financial transactions, measurement of such transactions in monetary terms, recording of such transactions in the books of account and classifying the transactions and events by way of posting them into individual Ledger Accounts.
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