A System of Recording, Classifying, and Summarizing Financial Transactions Is

question 9

Multiple Choice

A system of recording, classifying, and summarizing financial transactions is called

• A) bookkeeping.
• B) accounting.
• C) accruing.
• D) depreciation.

---

Definitions:

Specific Purpose

A distinct aim or objective for which something is used, created, or exists.

In-Group

A social group to which a person psychologically identifies as being a member, often characterized by a sense of loyalty and exclusivity.

Secondary Group

A large, impersonal social group whose members pursue a specific goal or activity with little emotional connection among themselves.

Yoga Group

A community or assembly of individuals who practice yoga together, often focusing on improving physical health, mental clarity, and spiritual well-being.