Can a joint stock company maintains it's book under incomplete records
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3
Answer:
no
Explanation:
because there are big companies and they maintain records in double entry system
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7
Incomplete records is the situation where an organization is not using double-entry bookkeeping. A joint stock company can not maintain the books under incomplete records.
- Having incomplete documents means using a more informal accounting system, such as a one-entry system, to hold a small amount of information on its financial results.
- A cash-based income statement may be handled under a single entry system but it does not cover a balance sheet.
- A joint stock company needs to rely on a double entry system for the proper maintenance of records.
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