Bookkeeping is the process of recording the sources and amounts of dollars earned and spent.

Question

Quizplus · Accepted Answer

Bookkeeping involves systematic recording of financial transactions and events of an organization to create financial statements and reports. It includes maintaining accurate records of every financial transaction, including the sources of income and expenses incurred to reflect the financial health of a business. Therefore, the statement is true.

Bookkeeping Is the Process of Recording the Sources and Amounts