BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

FINANCIAL ACCOUNTING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Who is known as the father of accounting?
A
Leonardo da Vinci
B
Fra Luca Pacioli
C
Al Khawarizmy
D
Al Mazendarany
Explanation: 

Detailed explanation-1: -Fra Luca Bartolomeo de Pacioli (sometimes Paccioli or Paciolo; c. 1447 – 19 June 1517) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and an early contributor to the field now known as accounting.

Detailed explanation-2: -But the father of modern accounting is Italian Luca Pacioli, who in 1494 first described the system of double-entry bookkeeping used by Venetian merchants in his Summa de Arithmetica, Geometria, Proportioni et Proportionalita.

Detailed explanation-3: -Luca Pacioli (c. 1447 – 1517) was the first person to publish detailed material on the double-entry system of accounting. He was an Italian mathematician and Franciscan friar who also collaborated with his friend Leonardo da Vinci (who also took maths lessons from Pacioli).

Detailed explanation-4: -Luca Pacioli was an Italian mathematician who published the influential book Summa in 1494 giving a summary of all the mathematics known at that time.

Detailed explanation-5: -In 1494, the first book on double-entry accounting was published by Luca Pacioli. Friar Luca is regarded as the “Father of Accounting, ” he did not invent the system.

There is 1 question to complete.