Concept:Bookkeeping is the systematic recording of financial transactions for future reference.Explanation:Bookkeeping involves recording all money-related business transactions in books of accounts.Its major feature is that it keeps a permanent and complete record of every financial transaction.Option A is wrong because bookkeeping is historical, not futuristic.Option B is wrong because bookkeeping records transactions accurately but does not “accept responsibility” for wrong postings.Option D is wrong because bookkeeping actually follows the double entry system.Answer:C. provides permanent records for all financial transactions