Why should an entrepreneur keep records of profit and expenses?
Answer and explanation
Correct answer: For financial control
Keeping records helps understand the financial condition of business. Exam tip: link accounting with financial discipline.
Frequently asked questions
What is the correct answer to this question?
For financial control
Why is this the correct answer?
Keeping records helps understand the financial condition of business. Exam tip: link accounting with financial discipline.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Entrepreneurship: definition and characteristics.