Indicate the best answer for each of the following.

i. The prime function of accounting is to:

a. Record economic and financial data.

b. Provide basic information to the management.

c. Attain non-economic goals.

d. Provide desired information to the internal departments of the company.

ii. The basic function of financial accounting is to:

a. Record all the financial transactions of the business.

b. Interpret the financial information.

c. Assist the management.

iii. Book-keeping is mainly concerned with:

a. Recording of financial data.

b. Designing the system in recording, classifying and summarizing the recorded data.

c. Interpreting the recorded data for internal as well as external use.