The systematic recording of business transactions is
Answer Details
Bookkeeping is the systematic recording of business transactions. It involves the process of identifying, measuring, and recording financial transactions such as purchases, sales, receipts, and payments. The purpose of bookkeeping is to provide a clear and accurate picture of a company's financial health, including its assets, liabilities, equity, revenue, and expenses. Bookkeeping is essential for financial management, reporting, and decision-making. It is often performed by bookkeepers or accountants, who use specialized software and follow accounting principles to ensure that all transactions are recorded accurately and in compliance with relevant laws and regulations.