Question

The profounder of double entry system of book-keeping is
(a) J. R. Batlibai
(b) Luca Pacioli
(c) Old Kesal
(d) Menhar

Answer 1

The profounder of double entry system of book-keeping is Luca Pacioli

option (b)

Answer 2

Answer:

The profounder of double entry system of book-keeping is Luca Pacioli.

Explanation:

Luca Pacioli documented the first known documentation of the double-entry system in 1494. He is widely known today as the “Father of Accounting”. He wrote and published the first book named “Summa de arthmetica, geometria, proporioni et proportionalita” alongside his close friend Leonardo da Vinci that year detailing the concept of double-entry bookkeeping method. They did research together into how the concepts may be applied in a more efficient and structured way. Double-entry bookkeeping method, also known as double-entry accounting, is a method of bookkeeping that relies on two-sided accounting.

Luca pacioli was the first person to publish detailed material on the double entry system of accounting.

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