Accounting · Bookkeeping

Consider the following statements regarding the process of Bookkeeping: I. It is considered the foundation of accounting, and its output serves as a direct input for higher-order accounting processes. II. It is typically carried out by senior staff possessing advanced skills in analysis and interpretation. III. Its primary objective is to maintain a systematic, chronological, and permanent record of financial transactions. IV. It goes beyond mere recording and includes analysing and interpreting reported financial information. Which of the statements given above are correct?