ENTREP-12- KEEPING BUSINESS RECORD

THIS IS ONE WAY TO MONITOR THE PROGRESS OF YOUR BUSINESS.

• SALES

• PROFIT

• LOSS

• KEEPING BUSINESS RECORD

Keeping Business Record will not support items reported on your tax returns.

• True

• False

Keeping Business Record is helpful during the preparation of your tax returns.

• True

• False

Keeping Business Record could not track of your basis in property.

• True

• False

Keeping Business Record allow you to track your deductible expenses.

• True

• False

Keeping Business Record could not identify sources of your income.

• True

• False

Keeping Business Record is no longer helpful during the preparation of your financial statements.

• True

• False

Records support openness and transparency by documenting and providing evidence of work activities and by making them available to the public.

• True

• False

Keeping Business Record will avoid theft.

• True

• False

Keeping Business Record is useful in managing your cash flow.

• True

• False