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The difference between book keeping and accounting is that while

Accounts - Principles of Accounts
JAMB 2016

The difference between book keeping and accounting is that while

  • A. book keeping interprets data, accounting records it
  • B. book keeping is regarded as the language of the business accounting ascertians its strength and weakness
  • C. book keeping records data accounting interprets it
  • D. book keeping summaries information accounting communicatesit
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Correct Answer: Option C
Explanation

In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data. 

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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