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

Large Businesses

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Companies

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Big Partnership Firms

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Small Businesses

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D
Small Businesses

Small businesses usually maintain incomplete accounting records of the business activities.

Suggest Corrections

Similar questions

Keeping the records of the business separate from the personal records of the owner of the business is said to be in adherence to which accounting principle or concept?

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

Q. Keeping the records of the business separate from the personal records of the owner of the business is said to be adherence to which accounting principle or concept?

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

	April 01, 2016		March 31, 2017
		Rs		Rs
Cash in hand		1,000		1,500
Cash at bank		15,000		10,000
Stock		1,00,000		95,000
Debtors		42,500		70,000
Business premises		75,000		1,35,000
Furniture		9,000		7,500
Creditors		66,000		87,000
Bills payable		44,000		58,000

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.

Q. _________ are the errors committed by persons responsible for recording and maintaining accounts of a business firm in the course of accounting process.

Join BYJU'S Learning Program

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

The correct option is D Small Businesses Small businesses usually maintain incomplete accounting records of the business activities.

The correct option is D
Small Businesses

Small businesses usually maintain incomplete accounting records of the business activities.