Question

1. Financial accounting records only
a) Actual Figures
b) Budgeted figures
c) Standard Figures
d) All of the above​

Answer 1

Answer:

Option D is the right answer......

Answer 2

The correct answer is (a) Actual Figures.

• Only historical data is recorded in financial accounting.
• Accounting is done on the basis of the real amount of money spent or incurred.

For example:

If a company buys a piece of land for Rs.60000, but the market worth is Rs.70000, accounting will only be done for the Rs.60000 that was actually spent.