Which of the following branches of accounting was first developed?

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Accounts - Principles of Accounts JAMB 2009

Which of the following branches of accounting was first developed?

  • Cost accounting
  • Financial acounting checkmark
  • Management accounting
  • Petroleum accounting

The correct answer is: B

Explanation

Financial Accounting is based on a systematic method of recording transactions of any business according to the accounting principles. It is the first and original form of accounting process.

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