Unit 3 Reading Activity Plus Questions

Read the following text and then complete the activities that follow.
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UK

Bookkeeping

A lot of people look down on bookkeepers, and the act of bookkeeping is often seen as one of the less challenging aspects of accountancy. However, without good bookkeepers, accounts would find that they were faced with a huge amount of extra work. Bookkeeping is the foundation of accounting and is just as, if not even more important than some of the more 'glamorous' accounting work.

So why are bookkeepers seen as being less important to the success of an accounting department than accountants? Well to get the answer to this, it is important to understand what exactly bookkeeping is.

Bookkeeping within a business is basically the recording of any financial transactions. These transactions include purchases, sales, receipts and payments- in fact just about every financial transaction.

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Quiz: Reading Questions

1. All income must be stated in the return.
2. Incorrect stated expenditure is a liability.
3. Nominal codes are used with double entry bookkeeping and T-accounts.
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