“Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results t

CS Executive · Corporate and Management Accounting · PYQS · December 2024
“Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof.” This definition is given by:
(A) American Institute of Certified Public Accountants
(B) American Institute of Certified Management Accountants
(C) Carter and Wilson
(D) International Institute of Certified Public Accountants

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Accounting Principles

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