Maharashtra State BoardHSC Arts 11th
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State whether the following statement is true or false with reasons: Book-keeping and accounting are one and the same thing. - Book Keeping and Accountancy

MCQ
True or False

State whether the following statement is true or false with reasons:

Book-keeping and accounting are one and the same thing.

Options

  • True

  • False

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Solution

This statement is False.
Bookkeeping and accounting are not one and the same thing. Book-keeping is the art of recording business transactions in a set of books whereas accounting refers to analysis and interpretation of book-keeping records. Book-keeping itself is a part and parcel of accounting.
Concept: Book-keeping
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APPEARS IN

Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 1 Introduction to Book - Keeping and Accountancy
Exercise Q.4 | Q 1 | Page 17
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