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Why is record keeping necessary for an entrepreneur?

Answer and explanation

Correct answer: To assess income, expenses, and decisions accurately

Accurate records show sales, expenses, cash movements, stock, and other business facts. They help the entrepreneur measure performance, control costs, prepare budgets, meet compliance needs, and make informed decisions. Hiding mistakes or confusing customers is not the purpose of records, and good records strengthen rather than eliminate planning; A is correct.

Related tags

Record-KeepingFinancial-ControlEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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