Analysis of profitability, liquidity and solvency of the business can be done under incomplete records system.

True

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False

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Solution

The correct option is B
False

Analysis of profitability, liquidity and solvency of the business cannot be done.

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Similar questions

Which of the following businesses usually maintain incomplete accounting records of the business activities?

Mr. Akshat keeps his books on incomplete records following information is given below:

During the year he withdrew Rs 45,000 and introduced Rs 25,000 as further capital in the business compute the profit or loss of the business.

Incomplete records system is _________ method of maintaining records.

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