The correct answer is: D. Manual or electronic form
Accounts are required to be maintained in manual or electronic form. This means that businesses can choose to keep their records in either paper or digital format. However, there are some important considerations to keep in mind when making this decision.
Manual records can be more difficult to keep track of and can be more easily lost or damaged. However, they can also be more secure, as they are not as easily accessible to hackers. Electronic records are easier to store and manage, but they can also be more vulnerable to security breaches.
Ultimately, the best way to maintain accounts is to choose the method that best suits the needs of the business. Businesses should consider factors such as the size of the business, the volume of transactions, and the level of security required when making this decision.
Here is a brief explanation of each option:
- A. Manual form
Manual records are kept in paper form. This means that all transactions are recorded by hand and stored in physical files. Manual records can be more difficult to keep track of and can be more easily lost or damaged. However, they can also be more secure, as they are not as easily accessible to hackers.
- B. Electronic form
Electronic records are kept in digital form. This means that all transactions are recorded and stored on a computer or other electronic device. Electronic records are easier to store and manage than manual records. However, they can also be more vulnerable to security breaches.
- C. Manual and electronic form
Some businesses choose to keep both manual and electronic records. This can be a good option for businesses that need the security of manual records but also want the convenience of electronic records. However, it is important to keep in mind that maintaining both types of records can be more time-consuming and expensive.
- D. Manual or electronic form
The most common way to maintain accounts is in manual or electronic form. This means that businesses can choose to keep their records in either paper or digital format. However, there are some important considerations to keep in mind when making this decision.