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What is one benefit of keeping business records?

Answer and explanation

Correct answer: Getting an accurate account of income and expenses

Records of sales, purchases, expenses, stock, and payments help an entrepreneur know how much money comes in and goes out. This supports calculation of profit, budgeting, tax or compliance work where required, and better decisions. Good records do not remove customers or stop production; they make business performance easier to understand.

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Business RecordsIncomeExpensesIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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