Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 63

Choose from the following list of terms/phrases to best complete the following statements.
a. Accounting
b. Identifying
c. Recording (bookkeeping)
d. Communicating
e. Recordkeeping
f. Technology
g. Language of business
h. Governmental
1. _________ reduces the time, effort, and cost of recordkeeping while improving clerical accuracy.
2. __________ business activities requires that we keep a chronological log of transactions and events measured in dollars.
3. _________ is the recording of transactions and events, either manually or electronically.