The "First' basic function of an "Accounting System" is to "Interpret & Record' Business Transactions?

First step in account system is to analyze the transaction and then record.

Interpretation is the last step. 

The above mentioned statement is False

Ans   False 

True................. Interpretation includes much information to sort out.

This statement is true as we need to first interpret transaction  from available evidences to decide whether this is a business transaction or not and then to record it in books of accounts.

The  OPTION   NO  2 IS RIGHT ANSWER

I agree with, Sabir. You analyse, record and then interprete any information. 

Yes True.............................................