WAEC - Accounts Principles Of Accounts (2010 - No. 20)
Where records maintained are inadequate to facilitate the preparation of a trading and profit and loss accounts, this is described as
cost accounting
bookkeeping
incomplete records
double entry
Explanation
Incomplete records refers to a situation in which an organization is not using double-entry bookkeeping. Instead, it is using a more informal accounting system, such as a single-entry system, to maintain a reduced amount of information about its financial results.
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