Which of the Following Most Clearly Differentiates Accounting and Bookkeeping

question 42

Multiple Choice

Which of the following most clearly differentiates accounting and bookkeeping?

• A)Bookkeeping always involves information technology; accounting does not.
• B)Accounting always involves information technology; bookkeeping does not.
• C)Bookkeeping is the part of accounting most focused on rules and procedures.
• D)A college degree is required for bookkeeping, but not for accounting.

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Definitions:

Federal Income Tax

The tax levied by the United States federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Interest Calculations

The process of determining the amount of interest owed or earned over a specified period of time, based on a given rate and principal amount.

Merchandise

Goods available for sale in a retail or wholesale environment.

Journalize

The act of recording transactions in an accounting journal in chronological order.