Question

The basic unit of book-keeping is:
• Journal entry
• Totaling
• Balancing
• none of these​

Answer 1

Answer:

none of these is correct

Answer 2

QUESTION:-

The basic unit of book-keeping is:

• Journal entry
• Totalling
• Balancing
• none of these

ANSWER:-

• none of these
• The basic unit of book-keeping is an account

EXPLANATION:-

• Bookkeeping is a system that specifies financial transactions and is recorded in such a way that assists in preparing financial statements using the rules of debit and credit and accounting laws and standards.

• The basic unit in which data are stored in bookkeeping is known as an Account. In bookkeeping, the data are recorded at the place known as accounts because all the transactions are initially recorded in the journal and then placed into the ledger. Till the end of the year, all the transactions are classified into accounts and then obtained to prepare the financial statements.

#SPJ2