Question

please answer these questions ​

Answer 1

Answer:

• 1 -: Book keeping is the recording of financial transactions, and is part of the process of accounting in business.
• 2-: Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing analyzing and reporting these transactions to oversight agencies, regulators and tax collection and entitles.
• 3-: Objectives of accounting in any bussiness are systematically record transactions, sort and analyzing them,prepare financial statements, assessing the financial position, and aid in decision making with financial data and information about the bussiness.
• 4-: System of accounting refer to the two systems of recording the financial transactions in the books of accounts. These two systems are the single entry systems and the double or dual entry systems.
• 5-: Functions of accounting are to control financial policy,and formation of planning, preparation of the budget, cost control, evaluation of employees performance, prevention of errors and frauds. analysis of the interested parties, including the management.