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State whether the following statement is True or False with reasons.Book Keeping records monetary and non-monetory transactions - Book Keeping and Accountancy

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MCQ
True or False

State whether the following statement is True or False with reasons.
Book Keeping records monetary and non-monetory transactions

Options

  • True

  • False

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Solution

This statement is False. 
In the books of accounts, only financial transactions are to be recorded. Means non-monetary transactions are not be recorded.

Concept: Specimen Or Format of Journal
  Is there an error in this question or solution?
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