Practice Quiz

Veterinary Practice Manager

Category - CVPM

Start a Study Session Sign up for Question of the Day
Although closely related, bookkeeping tasks and accounting are separate duties. What is the primary difference between the two?
  1. Bookkeeping is more about designing a system and accounting records transactional data
  2. Bookkeeping involves creating a ledger and accounting involves writing checks
  3. Bookkeeping involves interpretation of financial reports, accounting creates financial reports
  4. Bookkeeping is the process of recording transactional data and accounting uses the data gathered by bookkeeping to interpret financial reports
Explanation
Answer: D- Although closely related, bookkeeping tasks and accounting are separate duties Bookkeeping is the process of recording transactional data and accounting uses the data gathered by bookkeeping to interpret financial reports.
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz