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Exercise 1)Understanding accounting Choose from the following term or phrase a through h to best complete the statements I through 3
Exercise 1)Understanding accounting Choose from the following term or phrase a through h to best complete the statements I through 3. a. Accounting b. Identifying c. Recording d. Communicating e. Governmental f. Technology g. Language of business h. Recordkeeping (bookkeeping) 1. reduces the time, effort, and cost of recordkeeping while improving clerical accuracy. 2. business activities requires that we keep a chronological log of transactions and events measured in dollars. 2 ACC 1003 Financial Accounting ACC 1003 Financial Accounting 201710 1 3. is the recording of transactions and events, either manually or electronically.
Expert Solution
1) Technology reduces time , effort and cost of book keeping while improving clerical accuracy.
2)C recording business activities that require a chronological order of transaction and events measured in dollars.
3)H record keeping (book keeping) is recording of transaction and events either manually or electronically.
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