Question : The __________ is traditionally the most popular method of keeping records of financial transactions of any organization.
Option 1: manual system of accounting
Option 2: computerized system of accounting
Option 3: both 1 and 2
Option 4: None of these
Answer (1)
12th Jan, 2024
Correct Answer: manual system of accounting
Solution : The manual system of accounting is traditionally most popular method of keeping records of financial transactions of any organization. Financial statements are the end products of the accounting process, which are prepared in accordance with the Generally Accepted Accounting Principles (GAAP). Hence, the correct option is 1.
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