One Limitation of Running Records Is That Organizations Do Not

question 40

Essay

One limitation of running records is that organizations do not always maintain the records;what is another limitation?

---

Definitions:

External Financial Reports

Financial statements and reports prepared for external users, such as shareholders, creditors, and regulatory agencies.

Strategic Objectives

Goals set by a business to guide its overarching strategy and direction for future growth and success.

IRS

The United States government agency responsible for the collection of taxes and enforcement of tax laws.

Taxable Income

Income subject to tax, after accounting for deductions and exemptions, used to determine how much tax an individual or corporation owes.