Which of the following phrases most closely relates to bookkeeping?
A)Identifying and measuring economic information
B)Communicating economic information
C)Permitting informed judgments by users
D)Permitting informed decisions by users

Question

Quizplus · Accepted Answer

Bookkeeping involves identifying and measuring economic information, such as recording financial transactions and maintaining financial records. Communication of economic information and permitting informed judgments and decisions by users are also important aspects of accounting, but they are not as closely related to bookkeeping as identifying and measuring economic information.

Which of the Following Phrases Most Closely Relates to Bookkeeping