Abstract
Before studying the problem of incomplete records it is essential to remember the elementary accounting principles, which are as follows:
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(1)
That every transaction is recorded in some suitable form, i.e. by means of journal entry, proof sheet, original document, in order that the item can be entered in the relevant account.
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(2)
That every transaction involves a dual movement of the business funds (a double entry has been made, i.e. each debit has a corresponding credit).
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(3)
That the control of debtors and creditors is maintained by the use of summary accounts.
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© 1977 A. A. Callam and M. J. Ryder
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Callam, A.A., Ryder, M.J. (1977). Incomplete Records. In: A Foundation in Business Accounting. Palgrave, London. https://doi.org/10.1007/978-1-349-02640-1_5
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DOI: https://doi.org/10.1007/978-1-349-02640-1_5
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-18452-3
Online ISBN: 978-1-349-02640-1
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