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WAEC Financial Accounting 2006 Question 1

Question 1

Introduction to Accounting

The art of collecting, recording, presenting and interpreting accounting data is

  1. A.cost accounting
  2. B.management accounting
  3. C.financial accounting
  4. D.data processing.
Show the answer and explanation

Answer: C (financial accounting)

Explanation

Financial accounting records, summarises and interprets a business's financial data.