Reasons on why companies keep financial records?

- required have proof of income , expenses when comes paying various tax agencies.

- publicly-traded companies required security & exchange commission keep proper financial records.

- keeping proper set of books can valuable data internal use, in "what products or services selling most?" , "what our biggest expenses?" identifying things makes decision-making easier , more valid. couldn't types of things proper financial records.

- if business wanting attract outside investors, people want see financial records past 3 5 years (at least). need verify investing in profitable company.

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