An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as?

Question

An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as?

external accounting
internal accounting
business accounting
financial accounting

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

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AhmedNazir · Accepted Answer · 2022-09-01T13:21:41+06:00

Answer: Option 4

An accounting which records and measures business transactions and is followed by general accepted accounting principles is classified as financial accounting. Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.