Business Record Keeping

When creating a record keeping system, it’s a good idea to………………………………..

• Start after one year of operations.

• Start simple and refine later.

• Get a sophisticated system to anticipate future needs.

• Wait until enough information is available to get started.

Record keeping is the orderly and ____________________ practice of storing business records.

• Legal

• Corporate

• Financial

• Disciplined

Which of the following are reasons for keeping good records? Select all that apply.

• Planning

• Business detail tracking

• Legal compliance

• Tax preparation

• All of the above

Record keeping is one of the most important task for small and big business owner. No business or government entity can survive without making records of its activities.

• True

• False

Which of the following is not an advantage of electronic filing systems

• Less waste

• Less physical space

• Accessible to all

• Economical

Which of the following is not a feature of an effective business record system?

• simple and easy to use

• Have a high retrieval speed

• Be easily accessible to all staff.

• D. Both B & C

Which of the below should an organization consider when choosing a storage device?

• A. Capacity

• B. Physical size

• C. Color

• D. Both A & B

What is a physical record?

• A paper based record only

• Record of any information that need to be kept by a business that can be paper based or digital

• A digital record only

• User manuals, blank forms and Magazines

Which of the following should you take to ensure paper files are confidential

• Never leave files unattended on a desk

• Old files remain confidential when they go to archive

• Shred unwanted files

• All of the above

Which of the following is a record?

• Extra copies

• Blank forms

• Manuals

• E-mails