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Introduction to Book Keeping and Accountancy — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyIntroduction to Book Keeping and Accountancy2 Marks
Question
Bookkeeping is necessary only for organizing with profit objectives.
✓

Answer

This statement is False.
Books of accounts are maintained by trading and non-trading concerns. Non-trading concerns do not earn any profits so book-keeping is not necessary only with the objective of profit.

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