Which of the following most clearly differentiates accounting and bookkeeping?
A)Bookkeeping always involves information technology; accounting does not.
B)Accounting always involves information technology; bookkeeping does not.
C)Bookkeeping is the part of accounting most focused on rules and procedures.
D)A college degree is required for bookkeeping, but not for accounting.

Question

Quizplus · Accepted Answer

While bookkeeping and accounting are closely related, bookkeeping focuses on the recording and organization of financial transactions, while accounting involves the interpretation and analysis of that information to make strategic financial decisions. Bookkeeping is more focused on following established rules and procedures, while accounting requires a deeper understanding of financial principles and analysis. The other options (A, B, and D) are not accurate differentiators between accounting and bookkeeping.

Which of the Following Most Clearly Differentiates Accounting and Bookkeeping