Introduction to Bookkeeping & Accounts

______________ is the process of preparing, analyzing, and communicating financial information in the form of financial statements.

• Bookkeeping

• Financing

• Accounting

• Recording

_________ is the process of recording information (business transactions) in the books of accounts.

• Accounting

• Bookkeeping

• Recording

• Financing

The main aim of a business is to make ______________________.

• Money

• Services

• Profit

• Products

The accounting sequence involves the following - __________________, clarifying data, summarizing data and communicating information.

• classifying data

• recording data

• emailing data

• adding data

Everything in accounting is recorded in terms of __________.

• accuracy

• products

• money

• information

The ____________ stage of the accounting process is called book keeping.

• first

• last

• fourth

• second

Managing the ______ of the business is a very important way in which a business can become successful.

• people

• products

• finances

• customers

A _________ is a written plan of how to spend a certain amount of money.

• budget

• savings

• plan

• method

The money that the owner invests in the business is called _______ or equity.

• investment

• capital

• money

• resources

The preparation of financial statements is the job of the ____________.

• bookkeeping

• worker

• accountant

• owner