CBSE - Class 11 - Accountancy - Term 2 - Accounts from Incomplete Records

Incomplete records: uses and limitations. Ascertainment of profit/loss by statement of affairs method. Some small size business entities do not follow the double entry system of maintaining the accounting records some business entities maintains books of accounts under the system Accounting from Incomplete records. The system in which no set rules of double entry system are followed is called Accounts from Incomplete records.

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