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WAEC F/ACCOUNTING ANSWERS BELOW =================================== 1a) Incomplete records refer to a condition wherein; an establishment is not practising double-entry bookkeeping. Instead, it is practising an unconventional accounting system, namely, a single-entry system, to sustain a decreased amount of data about its financial results. 1b) (i) We cannot prepare a Trial Balance to ensure the accuracy of the accounts in the absencea of the double entry system. (ii) It fails to ascertain the accurate financial results of the organization. (iii) Investigation and examination of the profitability, solvency, and liquidity are difficult. Hence, the outsiders and banks may not lend money for the expansion of the business. (1c) (i) He has no knowledge or lack of knowledge about the accounting principles and concepts. (ii)The double entry system is comparatively an expensive way of maintaining the financial accounts. The accountants may charge a handsome amount as fees. (iii)Maintaining incomplete records consumes less time. (iv)It is more convenient to maintain records as per the single entry system. =================================== Chat Me Now With N500 Airtime To Subscribe For The Full Answers 💯 For Bank Transfer, Make Ur Payment To Account Below 👇👇👇👇 7069631173 Opay Liberty Moses Send Payment Receipt To My Dm 08023343546 For Comfirmation, And Get Answers Immediately. Kindly Go Straight To The Point.

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🔥TOMORROW WAEC 2023 EXAM Tuesday, 23rd May 2023 =================== =================== Financial Accounting 2 (Essay) (09:30am – 11:30am) Financial Accounting 1 (Objectives) (11:30am - 1:00pm) =================== =================== Physics 2 (Essay) (2:00pm – 3:45pm) Physics 1 (Objectives) (3:45pm – 4:45pm) =================== =================== QUESTIONS AND ANSWERS LOADING JOIN VIP GROUP FOR ANSWERS🤗

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