Question

Which statement best describes the lesson we can learn from Lupe's experience?

a.It’s too much work to open a checking account.
b.It’s only important to track large amounts in personal records.
c. It’s important to keep accurate records.
d.It’s best to use only one document to track spending.


ANSWER IT'S C!

Answer 1

C. It’s important to keep accurate records.

Answer 2

The answer is: c. It’s important to keep accurate records.

In cases when the people from authority need to conduct an audit to our financial information, they will crosschecks the accounting records that we have with the actual proof of the transaction (slips, bank statement, cheques, etc). If, there are some inaccuracies in the records, they could use it as a proof to indict us for financial frauds even if it's a honest mistake on our part.