Select your language

Suggested languages for you:
Log In Start studying!
Answers without the blur. Just sign up for free and you're in → Illustration

Q1QS

Expert-verified
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

Statement

Terms or phrases

1.

F. Technology

2.

C. Recording

3.

H. Recordkeeping (bookkeeping)

Most popular questions for Business-studies Textbooks

Icon

Want to see more solutions like these?

Sign up for free to discover our expert answers
Get Started - It’s free

Recommended explanations on Business-studies Textbooks

94% of StudySmarter users get better grades.

Sign up for free
94% of StudySmarter users get better grades.