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WAEC Financial Accounting 2010 Question 21

Question 21

Incomplete Records

Where records maintained are inadequate to facilitate the preparation of a trading and profit and loss accounts, this is described as

  1. A.cost accounting
  2. B.bookkeeping
  3. C.incomplete records
  4. D.double entry
Show the answer and explanation

Answer: C (incomplete records)

Explanation

Books not kept fully on double entry are called incomplete records (single entry).