BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Transactions are recorded in a certain set of books, this statement is true because, Book Keeping is concerned with identifying financial transactions and events; measuring them in money terms; recording them in the books of account (Journal or Subsidiary Books) in systematic manner and classifying them in ledger”.

Detailed explanation-2: -Recording of transactions by a businessman in proper books and in a systematic manner is known as accounting.

Detailed explanation-3: -Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.

Detailed explanation-4: -Keeping systematic recording of business transaction is not the function of financial accounting. This statement is false as to keep systematic record of the transaction is the function of accounting. Business and businessman are one and the same from accounting point of view.

Detailed explanation-5: -A systematic record of the daily activities of a business is to present a complete financial picture is known as accounting or in its elementary stages as book-keeping. It is difficult to get a clear distinction between book keeping and accounting. Book-keeping is to keep the books and make the accounting records.