Meaning of book keeping, accounting, Basic Statistics

Meaning of book keeping, accounting, Basic Statistics

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What do you understand by the term “Book Keeping”?

Ans. In nutshell the attending the Accounting Process is called or referred as Book Keeping in other plain words we may concern that the Book Keeping is the part of whole Accounting process in other words we can say that recording the financial transaction, then classification and summarizing all those financial transactions are concerned with Book Keeping. R.N. Carter describes the Booking Keeping as “Book Keeping is the science and art of recording corral in the books of account all those business transactions that result in the transfer of money or money’s worth.”

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