Download App

Introduction to Book Keeping and Accountancy — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyIntroduction to Book Keeping and Accountancy2 Marks
Question
Book-keeping and accounting are one and the same thing.
✓

Answer

This statement is False.
Book-Keeping means recording business transactions in a separate set of books and accountancy is the process of summarising and analyzing the business transactions which are recorded in the books of accounts, so book-keeping and accounting are not one and the same thing.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "State whether the following statements are true or false with reasons" from Introduction to Book Keeping and Accountancy→Introduction to Book Keeping and Accountancy — all question types→Book Keeping & Accountancy STD 11 Commerce / Arts question papers→Maharashtra Board STD 11 Commerce / Arts question papers→Maharashtra Board question paper generator→

Similar questions

Ledger accounts are balanced every day.
→
Depreciation increases the value of the asset.
→
Businessman generally operates savings bank account.
→
Conservatism means to follow the safe side.
→
A Trial Balance can agree in spite of certain errors.
→
Personal transactions of proprietors are recorded in the books of account of business.
→
Outstanding salary is a nominal account.
→
There is no need to provide depreciation if the asset is maintained with care.
→
Direct deposit made by debtors into a businessman’s bank account is recorded on the credit side of Pass Book.
→
In barter transactions, goods or services are purchased for other goods or services.
→