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Sagot :
The possible outcomes of sloppy bookkeeping practices can be as follows:-
- The wrong bookkeeping will result in the failure of the audit process.
- It can hinder the process of internal control.
- It will lead to management problems like missing invoices and poor paperwork etc.
Bookkeeping is the art of recording the firm’s transactions in the books on a daily basis. It is basically the start of the accounting process. Bookkeeping is the task to record day-to-day activities like purchases, sales, payments, etc.
As said that bookkeeping is a daily process, hence the posting should be performed on daily basis - a daily routine.
Order - The transactions all should be recorded in chronological order. The company should post all the journal entries in the order it occurs.
Learn more about bookkeeping here: https://brainly.com/question/23132551
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