The recording in the books of account is known as **Accounting**.

### Explanation
Accounting involves the systematic and comprehensive recording of financial transactions pertaining to a business or organization. This process is crucial for maintaining accurate financial records, which help in the assessment of the company's performance and financial position. The primary objective of accounting is to provide useful financial information for decision-making.

This field encompasses various sub-disciplines such as auditing, costing, and reporting. Auditing refers to the examination of financial records for accuracy, costing involves determining the costs of products or services, and reporting involves the preparation of financial statements for stakeholders. However, the act of recording transactions in the books is fundamentally what defines accounting.

Question

The recording in the books of account is known as **Accounting**.

### Explanation
Accounting involves the systematic and comprehensive recording of financial transactions pertaining to a business or organization. This process is crucial for maintaining accurate financial records, which help in the assessment of the company's performance and financial position. The primary objective of accounting is to provide useful financial information for decision-making.

This field encompasses various sub-disciplines such as auditing, costing, and reporting. Auditing refers to the examination of financial records for accuracy, costing involves determining the costs of products or services, and reporting involves the preparation of financial statements for stakeholders. However, the act of recording transactions in the books is fundamentally what defines accounting.

Knowee AI · Accepted Answer

The recording in the books of account is known as **Accounting**.

### Explanation
Accounting involves the systematic and comprehensive recording of financial transactions pertaining to a business or organization. This process is crucial for maintaining accurate financial records, which help in the assessment of the company's performance and financial position. The primary objective of accounting is to provide useful financial information for decision-making.

This field encompasses various sub-disciplines such as auditing, costing, and reporting. Auditing refers to the examination of financial records for accuracy, costing involves determining the costs of products or services, and reporting involves the preparation of financial statements for stakeholders. However, the act of recording transactions in the books is fundamentally what defines accounting.

Recording in the books of account is known as ____________*1 pointAccountingAuditingCostingReporting

Question

Recording in the books of account is known as ____________

Solution

Explanation

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