Q.Define accounting.

Luca Pacioli developed the double-entry book-keeping system, so the answer is (d).

The double-entry system records every transaction with two equal and opposite effects — a debit and a credit — keeping the books always in balance. The Italian mathematician Luca Pacioli systematically described this method in his 1494 work, earning him recognition as the father of modern accounting.

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Accounting is the process of recording, classifying, summarising, analysing and communicating a business's financial transactions.

Accounting can be defined as the process of identifying, measuring, recording, classifying, summarising and communicating the financial transactions and events of a business, expressed in monetary terms, to enable users to make informed economic decisions. It begins with identifying transactions to record, moves through journalising, ledger-posting and preparation of a trial balance, and finally results in the financial statements (Trading and Profit & Loss Ac …