The Difference Between Bookkeepers and Accountants Is

question 45

Multiple Choice

The difference between bookkeepers and accountants is:

• A)just in the name because bookkeepers and accountants always do the same job
• B)that bookkeepers perform all the steps in the accounting process but accountants only do steps one and two.
• C)that accountants perform all the steps in the accounting process but bookkeepers only do steps one and two.
• D)that bookkeepers require a higher level of education to perform their duties than accountants.

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Definitions:

Human Resource Controls

Human Resource controls are mechanisms put in place to manage employees' performance and ensure compliance with organizational policies.

Segregation Of Duties

A fundamental internal control principle that divides responsibilities within an organization to reduce risks of errors or fraud.

Bank Reconciliation

The process of comparing the bank's records with the company's own records of its bank account to identify discrepancies.

Cash Receipts

Money received by a business from transactions, including sales, loan proceeds, and investment income.