State the meaning of incomplete records?
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Answer:
the record which don't have approx or complete record is known as incomplete record
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Meaning of incomplete records is given below :
- In terms of accountancy it's stated as a condition when an organization or company doesn't keeps the records of the entries and necessary details.
- Basically it's an unsystematic method to record transactions and details are misplaced in this way which can lead to wrong calculations or details.
- Set of maintaining records in this manner is very informal as limited details are present.
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