No, he needs specific records of business transactions.
Thomas is an entertainer for children’s parties. He runs the business and works the parties himself. He just uses his personal checking account to keep track of his deposits and debts. Is this adequate accounting?
(1 point)
Responses
Yes, he knows what each transaction is.
Yes, he knows what each transaction is.
Yes, there are records of every transaction.
Yes, there are records of every transaction.
No, he needs specific records of business transactions.
No, he needs specific records of business transactions.
No, checking accounts do not document all transactions.
1 answer