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Financial & Managerial Accounting
Found in: Page 29
Financial & Managerial Accounting

Financial & Managerial Accounting

Book edition 7th
Author(s) John J Wild, Ken W. Shaw, Barbara Chiappetta
Pages 1096 pages
ISBN 9781259726705

Short Answer

Choose from the following term or phrase a through h to best complete statements 1 through 3.

a. Accounting c. Recording e. Governmental g. Language of business b. Identifying d. Communicating f. Technology h. Recordkeeping (bookkeeping)

1. reduces the time, effort, and cost of recordkeeping while improving clerical accuracy.

2. requires that we input, measure, and log transactions and events.

3. is the recording of transactions and events, either manually or electronically.

Bookkeeping is known as the process of recording and organizing the transactions and the matching is shown in step 2.

See the step by step solution

Step by Step Solution

Step 1: Definition of bookkeeping

Bookkeeping is defined as the process of recording and organizing all the business’ transactions which have occurred during the period of time.

Step 2: Matching of the statement of terms or phrases


Terms or phrases


F. Technology


C. Recording


H. Recordkeeping (bookkeeping)

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