please answer the questions class 11
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3. Book keeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation.
It's function is to develop system to account for financial transactions by establishing a chart of accounts; defining bookkeeping policies and procedures. Maintains subsidiary accounts by verifying, allocating, and posting transactions. Balances subsidiary accounts by reconciling entries.
4. Book keeping - is all about recording and organising financial data while Accounting - it takes that data to prepare reports and get them ready for HMRC.
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