Kinds, Use and Disposal of Records

Subject: Accountancy

Overview

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Things to remember
  • Record keeping is the store of information. 
  • Record are the history of an organization.
  • The records which are preserved over a long time are called permanent records. 
  • The records which can be destroyed after 20 years of the job completion are called the most important records. 
  • The records which can be destroyed after 10 years of the job completion are called important records.
  • The records which can be destroyed after 5 years of the job completion are called most useful records.
  • The records which can be destroyed after 3 years of the job completion are called useful records.
  • The records which can be destroyed after 1 years of the completion of a job are called less useful records.

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