A reason a business is not able to keep full set of accounting records is...

Accounts - Principles of Accounts

WAEC 2023

A reason a business is not able to keep full set of accounting records is that

A. the business does not make profit
B. double entry is expensive to maintain
C. the business is not a trading concern
D. double entry shows the true profit

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Correct Answer: Option B

Explanation

The double entry system is comparatively an expensive way of maintaining the financial accounts. The accountants may charge a handsome amount as fees. Maintaining incomplete records consumes less time.

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A reason a business is not able to keep full set of accounting records is...

Correct Answer: Option B

Explanation

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