As mentioned earlier, inaccurate books could be disastrous for any business. In the first place, a business owner would have a misimpression of the financial health of the business. Because of this, the business owner could take certain unwise or imprudent decisions that affect the business badly. Or, it is equally likely that the inaccurate statements will end up attracting the attention of the tax authorities. On finding discrepancies in the books, the authorities could end
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