Question

What are the possible reasons for keeping incomplete records?

Answer 1

Answer:

they may be lazyperson and may be they don't like to work completely

Answer 2

Lack of knowledge about the principles of accounting and its concepts is one of the possible reasons for keeping the incomplete records.

Explanation:

Incomplete records can cause disruptions in the accounts. In order to prepare and maintain accurate accounts, it is necessary to make and post complete records in proper order.

There can be various possible reasons for keeping the incomplete records such as:

i. Use of unsystematic approach and methods.

ii. Lack of accuracy and uniformity in records management.

iii. Improper knowledge about the records.

iv. In order to save time, the records can get incomplete.

v. Lack of knowledge about the principles of accounting and its concepts.