Question

Select the most appropriate answer the alternatives given below and rewrite the Sentences.

Generally incompleted records are maintained by _____________
a) trader
b) company
c) society
d) government

Answer 1

Generally incompleted records are maintained by trader.

Explanation: Incomplete records, i.e. records based on the lines of single-entry system, are usually maintained by a trader. Incomplete records may be due to partial recording of transactions, as is the case with small shopkeepers such as grocers and vendors. Companies, societies and governments are required to maintain accounts based on double-entry system, owing to the size of their business.