Book of accounts

All companies as a matter of law must maintain records which should show
the following:
(a)      Entries from day of all
sums of money received and expended by the company, and the matters in respect
of which receipt and expenditure take place; and

(b)      A record of the assets and
liabilities of company
If the business of the company involves dealing in goods, the accounting
records shall contain-
(a)      Statements of stocks held
by the company at the end of each year of the company
(b)      All statements of stock
takings from which any such statement of stock as is mentioned in paragraph (a)
of this sub-section (that is section 331 (4) has been or is to be prepared; and
(c)       Except in the case of
goods sold by way of ordinary retail trade, statements of all goods sold
purchased, showing the goods and buyers and sellers in sufficient detail to
enable all these to be identified.

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