Since they are both the same activities, the terms "accounting" and "bookkeeping" are synonymous and can be used interchangeably.

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Quizplus · Accepted Answer

Although closely related, accounting and bookkeeping have distinct differences. Bookkeeping involves recording financial transactions, while accounting involves analyzing and interpreting those transactions to make business decisions. Therefore, the terms cannot be used interchangeably.

Since They Are Both the Same Activities, the Terms "Accounting