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Why is record keeping important in business?

Answer and explanation

Correct answer: To keep information of income, expenses, and sales

Records provide an organized account of sales, purchases, income, expenses, stock, and payments. By reviewing them, an entrepreneur can measure performance, prepare budgets, control costs, and make informed decisions. Therefore option A is correct. Forgetting information or hiding goods has no sound management purpose.

Related tags

Record-KeepingBusiness-FinanceEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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