Question

why is it necessary for a family to maintain record of its expenditure​

Answer 1

Answer:

Keeping family records in a business-like manner saves time, trouble, money and frustration. Record keeping is important because: Income tax preparation requires information on tax deductions; records substantiate deductions.

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Answer 2

It helps the Family. The family can note down it's expenditure and can notice what all things are unnecessarily bought.

The Family can check how much to spend and how much to save according to their income.

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