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What do you mean by accounting from incomplete records? |
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Answer» Answer: Mark me as brainliest. Explanation: Incomplete records refers to a situation in which an organization is not USING double-entry BOOKKEEPING. Instead, it is using a more INFORMAL accounting system, such as a single-entry system, to maintain a reduced amount of information about its financial results. Under a single-entry system, it is possible to maintain a cash-basis INCOME statement, but not a balance SHEET. |
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