To ascertain the term that best completes each sentences.
Explanation of Solution
Receipts, bank statements, invoices, payroll reports and all other written documentation help to justify an amount of revenue, deduction or credit listed on the tax return. Much relevant documentation should be preserved that is needed for sound recordings to track the business progress. Records will show how the company is going well, which products are selling, or what improvements that need to make. Good records will increase the chances of success in business. So it is important for business owners to document their expenses for their tax records.
.Introduction: Recording is necessary to satisfy the financial obligations of the company and to provide information from which decisions can be taken regarding the future of the business.
Chapter 8 Solutions
Economics Today and Tomorrow, Student Edition
Additional Business Textbook Solutions
Horngren's Accounting (12th Edition)
Financial Accounting (12th Edition) (What's New in Accounting)
Horngren's Accounting (11th Edition)
Principles of Accounting Volume 1
Managerial Accounting (5th Edition)
Principles of Accounting Volume 2
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