Question

state four benefits of keeping a record of house hold expenditure​

Answer 1

Answer:

Advantages of keeping household accounts:

1. By keeping household accounts, it is easier to spend money. By this, one can be informed about the money that has been spent on different things.

2. Accounting helps in avoiding disputes re­garding payments. Shopkeeper cannot cheat anyway if the purchases are made on credit. One is aware of the goods pur­chased; payments made, and left out bal­ance.

Answer 2

Answer:

Importance of keeping household records:

Explanation:

1. Helps to exact amount of the money available to the family.

2. Avoid wasteful expenditures.

3. serves as a guide for current and future expenses.

4. Helps avoid being overcharged.

5. Helps to ensure that money lasts throughout the month