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Which of the following statements about a company’s financial record-keeping obligations is not correct? Group of answer...

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Question

General Management

Which of the following statements about a company’s financialrecord-keeping obligations is not correct?

Group of answer choices

a.Every company is required to keep written financial recordsthat correctly record and explain its transactions and financialposition and performance.

b.Every company is required to keep written financial recordsthat would enable true and fair financial statements to be preparedand audited.

c.Every company is obliged to prepare financial statements everyyear.

d.‘Financial records’ include invoices, receipts, paymentorders, documents of prime entry and working papers.

Answer & Explanation Solved by verified expert
3.6 Ratings (606 Votes)
The answer is C When considering he record keeping obligations of the organizations each and every organization are obligated to prepare the financial records explain the transactions    See Answer
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