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Economics

Explain three reson why a business should have an account?

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August 06, 2012 3:59PM

So as to take proper record of the business. This is aimed at knowing the rate to which such business is growing.

It helps in decision making: Proper decision can only be effective with the aid of proper book of account.

Determinant of Profit or loss: This is to ascertain whether a business is running on a profit or loss level.