Question

1. What do you mean by Book-keeping? Discuss its main objects.​

Answer 1

Answer:

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Explanation:

QUESTION :-

WHAT IS BOOK-KEEPING? DISCUSS ITS MAIN OBJECTS.

SOLUTION :-

Book-keeping is the recording, on a day-to-day basis, of the financial transactions and information pertaining to a business. It ensures that records of the individual financial transactions are correct, up-to-date and comprehensive. ... Bookkeeping provides the information from which accounts are prepared.

The main objective of book-keeping is to keep a complete and accurate record of all the financial transactions in a systematic orderly, logical manner. ... Then the second main objective is to ascertain the overall effect of all recorded transactions on the final statement of the company.