What is book keeping?

what is book keeping

4 Answers

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  • Rachel
    Lv 6
    7 years ago
    Best answer

    Maintaining financial records of income, expenses, assets, liabilities, and owners equity for a business or non-profit entity, in accordance with generally accepted accounting principles.

    Source(s): I used to be an accountant.
  • pj m
    Lv 7
    7 years ago

    Mabala,

    Rachel has a good explanation there, and that's exactly what bookkeeping is. Schools have them, banks have them, doctors and hospitals have them, all your stores. Millionaires and Billionaires have bookkeepers to keep track of their taxes. Even keeping track of your checking account on withdrawals and deposits is bookkeeping.

    PJ M

  • Ken
    Lv 7
    7 years ago

    You have a library in your home or you work at keeping track of expenses for a company spending and earnongs

  • 7 years ago

    It's accounting.

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