Choose the correct statement Select one: a. Accounting is concerned with monetary transactions. b. Keeping systematic recording of business transaction is not the function of financial accounting. c. Business and Businessman are one and the same from accounting point of view. d. Accounting is concerned with past as well as future events.
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Answer:
Accounting is concerned with monetary transaction
Explanation:
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Option A is correct i.e. Accounting is concerned with monetary transactions.
- Accounting is concerned with monetary transactions this statement us true as it record all the transactions in terms of money whether it is received or not .
- Keeping systematic recording of business transaction is not the function of financial accounting. This statement is false as to keep systematic record of the transaction is the function of accounting.
- Business and businessman are one and the same from accounting point of view. This statement is false as business and its owner has the separate entity and they have their own identity.
PROJECT CODE #SPJ3
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