O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2021 · Q11 Mark
Which statements about book-keeping and accounting are correct? 1 Accounting is performed periodically rather than daily. 2 Accounting relies on having accurate book-keeping records. 3 Book-keeping includes the preparation of financial statements. 4 Book-keeping involves the recording of financial transactions.
A1, 2 and 4
B1 and 3
C2, 3 and 4
D2 and 4 only
✓ Correct answer
A: 1, 2 and 4
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