Book-keeping is an act of recording the financial transaction of a business in a systematic manner. An owner cannot keep all the memory of the financial transactions that take place in the business for the whole year. Therefore, all those financial transaction must be recorded in the books which can be used for future. So, the book-keeping keeps the records of financial transaction of the business for future purpose in a systematic manner.
The following are some of the main definitions of book-keeping:
"Book- keeping is the art of recording business dealings in a set of books." - J. R. Batliboi
"Book- keeping is the art of recording transactions in a systematic manner." – Rosenkamp
"Book-keeping is the science and art of correctly recording in books of accounts, all those business transactions that result in the transfer of money or money worth." - R.N. Carter
The following are the objectives of book-keeping:
The following are the functions of book-keeping:
Book-keeping is defined as the act of keeping written records of the financial transactions of a business.
State any two objectives of book-keeping.
Any two objectives of book-keeping are:
Write down any two functions of book-keeping.
Any two functions of book-keeping are:
Write down any two importance of book-keeping.
Any two importance of book-keeping are as follows:
Explain in short about the advantages of book-keeping.
The following are the advantages of book-keeping:
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