{"id":51329,"date":"2024-04-15T23:23:16","date_gmt":"2024-04-15T23:23:16","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=51329"},"modified":"2024-04-15T23:23:16","modified_gmt":"2024-04-15T23:23:16","slug":"amongst-the-following-statements-find-the-odd-one-out-with-regards-to-book-keeping","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/amongst-the-following-statements-find-the-odd-one-out-with-regards-to-book-keeping\/","title":{"rendered":"Amongst the following statements, find the odd one out with regards to book keeping."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a97f9cd2884e\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Book keeping has limited scope and concerned with recording, classifying &amp; summarizing                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"true\">\r\n                    Book keeping is essentially a clerical work                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    Book keeping depends on Accounting for making accounting records more useful                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    Book keeping only considers monetary transactions E. Book keeping happens after the Accounting process                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: Book keeping happens after the Accounting process.<\/p>\n<p>Bookkeeping is the process of recording and summarizing financial transactions. It is the first step in the accounting process, which also includes analyzing and reporting financial information. Bookkeeping is essential for businesses of all sizes, as it provides a record of financial activity that can be used to make informed decisions about the future of the business.<\/p>\n<p>Bookkeeping is typically done by a bookkeeper, who is responsible for recording all financial transactions in a ledger. The ledger is a system of accounts that tracks the financial activity of a business. Each account has a specific purpose, such as recording sales, expenses, or assets.<\/p>\n<p>Bookkeepers use a variety of tools to record financial transactions, including journals, ledgers, and accounting software. Journals are used to record individual transactions, while ledgers are used to summarize <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> transactions by account. Accounting software can automate many of the tasks involved in bookkeeping, such as recording transactions and generating reports.<\/p>\n<p>Bookkeeping is an essential part of any business, as it provides a record of financial activity that can be used to make informed decisions about the future of the business. Bookkeeping is typically done by <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> a bookkeeper, who is responsible for recording all financial transactions in a ledger. The ledger is a system of accounts that tracks the financial activity of a business. Each account has a specific purpose, such as recording sales, expenses, or assets.<\/p>\n<p>Bookkeepers use a variety of tools to record financial transactions, including journals, ledgers, and accounting software. Journals are used to record individual transactions, while ledgers are used to summarize transactions by account. Accounting software can automate many of the tasks involved in bookkeeping, such as recording transactions and generating reports.<\/p>\n<p>The statement &#8220;Book keeping happens after the Accounting process&#8221; is incorrect because bookkeeping is the first step in the accounting process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amongst the following statements, find the odd one out with regards to book keeping.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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