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Question
Book keeping is a part of accounting, therefore its scope is ______ where as scope of accounting is ______.
Options
Wider, narrow
Narrow, wider
More, less
None of these
MCQ
Fill in the Blanks
Solution
Book keeping is a part of accounting, therefore its scope is narrow where as scope of accounting is wider.
Explanation:
Book-keeping is a part of accounting and is focused on the recording of financial transactions. Therefore, its scope is narrower. On the other hand, accounting includes not only book-keeping but also the analysis, interpretation, and reporting of financial information, making its scope wider.
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Distinction Between Accounting and Book-keeping
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