Question

Which of the following is NOT a part of bookkeeping?

• A. Posting transactions to accounts
• B. Balancing accounts
• C. Preparing trial balance
• D. Interpreting financial reports

Answer 1

Answer:

D. Interpreting financial reports

BOOK KEEPING

• The term Book keeping and Accounting terms are different not same.

• According to JR Batliboi, bookkeeping is an art of recording transactions in the journal, classifying and summarising them into the accounts through posting, balancing of accounts and preparation of a trial balance.