Which of the following statements are true?
(1) Accounting can be described as the recording and summarising of transactions of a financial nature.
(2) Companies are owned and managed by their shareholders.
A 1 only
B 2 only
C Neither 1 nor 2
D Both 1 and 2
Hi, dear tutor, which one is correct? The answer is A. But i'm not sure is it true using term "financial nature" instead of "financial data" coz i thought they are different meaning. Thanks in advance for your help
Ask the Tutor ACCA FA
Financial Accounting
3y ago#1A is true because all transactions of a financial nature are recorded. In this context there is no difference between financial nature and financial data.
Sign in to reply to this topic.