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Which of the following is not a subfield of accounting?
- a)Management accounting.
- b)Cost accounting.
- c)Financial Accounting.
- d)Book-keeping
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
Which of the following is not a subfield of accounting?a)Management ac...
Book Keeping is the Recording Branch of Accountancy. Accountancy includes Book Keeping and classifying,interpreting and summarizing of the business transactions.
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Which of the following is not a subfield of accounting?a)Management ac...
Accounting Subfields:
1. Financial Accounting:
This field of accounting deals with the preparation of financial statements for external users like investors, creditors, and regulators.
2. Management Accounting:
This field of accounting deals with providing financial information to internal users like managers and employees for decision-making purposes.
3. Cost Accounting:
This field of accounting deals with the calculation, recording, and analysis of the costs of goods and services produced by a company.
4. Bookkeeping:
This is the process of recording financial transactions on a day-to-day basis. It involves maintaining records of all financial transactions like purchases, sales, receipts, and payments.
Answer:
Bookkeeping is not a subfield of accounting; it is a process that is a part of all the subfields of accounting. It involves the recording of financial transactions, which is a fundamental aspect of every accounting subfield.
1. Financial Accounting:
This field of accounting deals with the preparation of financial statements for external users like investors, creditors, and regulators.
2. Management Accounting:
This field of accounting deals with providing financial information to internal users like managers and employees for decision-making purposes.
3. Cost Accounting:
This field of accounting deals with the calculation, recording, and analysis of the costs of goods and services produced by a company.
4. Bookkeeping:
This is the process of recording financial transactions on a day-to-day basis. It involves maintaining records of all financial transactions like purchases, sales, receipts, and payments.
Answer:
Bookkeeping is not a subfield of accounting; it is a process that is a part of all the subfields of accounting. It involves the recording of financial transactions, which is a fundamental aspect of every accounting subfield.
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Which of the following is not a subfield of accounting?a)Management ac...
Book keeping of recording branch of
accountancy of classified in book keeping
accountancy of classified in book keeping
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Which of the following is not a subfield of accounting?a)Management accounting.b)Cost accounting.c)Financial Accounting.d)Book-keepingCorrect answer is option 'D'. Can you explain this answer?
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Which of the following is not a subfield of accounting?a)Management accounting.b)Cost accounting.c)Financial Accounting.d)Book-keepingCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following is not a subfield of accounting?a)Management accounting.b)Cost accounting.c)Financial Accounting.d)Book-keepingCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is not a subfield of accounting?a)Management accounting.b)Cost accounting.c)Financial Accounting.d)Book-keepingCorrect answer is option 'D'. Can you explain this answer?.
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