Which of the following is included in accounting? |
Recording Classifying Summarising All of these |
All of these |
The correct answer is option 4- All of these. In 1941, The American Institute of Certified Public Accountants (AICPA) had defined accounting as the art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof’. |