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Class : 11
Unit : Account

Mention any four functions/objectives of Book-keeping.

Ans : Following are the four functions of Book-keeping:- a. To identify financial transactions:-Book-Keeping identifies the financial transactions for recording purpose. Non-financial transactions are ignored. b. To keep systematic record:-Book-Keeping records identified financial transaction of a business in a scientific and systematic manner. c. To classify the recorded transaction:-Book keeping classifies all the transactions as per their nature and effect. d. To find out operational result of the business:-The main function of book keeping is to find out the result (profit or loss of business).
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