______ was the root of financial accounting system:
  • a)
    Social accounting 
  • b)
    Stewardship accounting 
  • c)
    Management accounting 
  • d)
    Responsibility accounting 
Correct answer is 'B'. Can you explain this answer?

CA Foundation Question

2 Answers
Suraksha Pahwa answered May 26, 2018
In its oldest form, accounting aided the stewards to discharge their stewardship function. The wealthy men employed steward to manage their property; the steward in return rendered an account periodically of their stewardship. Thus 'Stewardship Accounting' was the root of financial accounting system.

Venkata Manikanata answered Nov 25, 2018
Stewardship accounting

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