Tamil Nadu Board of Secondary EducationHSC Commerce Class 12th

Which one of the following statements is not true in relation to incomplete records? - Accountancy

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MCQ

Which one of the following statements is not true in relation to incomplete records?

Options

  • It is an unscientific method of recording transactions

  • Records are maintained only for cash and personal accounts

  • It is suitable for all types of organisations

  • Tax authorities do not accept

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Solution

It is suitable for all types of organisations

Concept: Features of Incomplete Records
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APPEARS IN

Tamil Nadu Board Samacheer Kalvi Class 12th Accountancy Answers Guide
Chapter 1 Accounts from incomplete records
Multiple choice questions | Q I 7. | Page 31
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