companies need to keep records of transactions, so that they can know well about their profit or loss percentages, also some companies have multiple share holders, so they need to keep records for keeping check and balance :)
Business systems still need more development so as to accommodate the needs in the business world. The system are aimed at making transactions and record-keeping simple and convenient.
You should keep utility bills for at least one year, but it's a good idea to keep them for up to seven years for tax and record-keeping purposes.
An LLC needs a bank account to keep its business finances separate from personal finances, maintain legal protection, and facilitate financial transactions such as receiving payments and paying expenses.
To calculate insurance for a car, you need to consider factors like your driving record, the type of car you have, your age, and where you live. Insurance companies use these factors to determine your risk level and set your premium. You can get quotes from different insurance companies to compare prices and find the best coverage for your needs.
In many cases, you do not need a cashier's check to buy a car, but it can be a secure and convenient payment method for large transactions.
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3 yrs
Real estate companies have their own attorneys for completing real estate transactions. At real estate closings, both parties are required to have an attorney present.
businesses need financial accounts so as to keep track of all their transactions,check progress(profits &losses) and to make decisons
Blockchain technology is significant in revolutionizing the financial industry because it provides a secure and transparent way to record transactions. It eliminates the need for intermediaries, reduces the risk of fraud, and ensures that transactions are tamper-proof. This technology has the potential to make financial transactions more efficient, cost-effective, and secure.
the term record means a document u need to keep in hand for further clarifications and for future use....
Schools use them to keep a record of students and teachers.Doctors surgery use them to keep a record of patients details.Libraries use them to keep a record the books that members of the public borrow.Shops use them to keep a record of the items that have been bought throughout the day.Police stations use them to keep a record a the criminal's record.
Both domestic and multinational companies need to manage cash flow, profitability, and financial reporting. They also need to adhere to regulations and plan for taxes effectively. However, multinational companies have the added complexity of managing foreign exchange risk, differences in tax laws across jurisdictions, and cross-border transactions.