A Comparison of Bookkeeping and Accounting Indicates That

question 33

Multiple Choice

A comparison of bookkeeping and accounting indicates that

• A) the two are virtually the same in practice.
• B) bookkeeping involves recording financial information, while accounting is concerned with classifying, summarizing, and interpreting this information.
• C) bookkeeping is more useful for small businesses while accounting is more useful for large businesses.
• D) accounting is a subsystem of the process of bookkeeping.

---

Definitions:

Custodial Parent

A parent who has been given physical and/or legal custody of a child by a court of law.

Single-Parent Households

Family units headed by one adult, navigating the complexities of raising children alone.

Advantages

Benefits or favorable factors that contribute to success or the achievement of an objective.

Disadvantages

The drawbacks or negative aspects of a situation, condition, or decision.