Question

Which of the following is false about the reasons to keep organized financial records?Organized financial records will help a business compete in the marketplace. Organized financial records help businesses take care of banking issues. Organized financial records allow workers to receive a higher rate of pay. Organized financial records help monitor performance.

Answer 1

Organized financial records allow workers to receive a higher rate of pay.

Organizations keep financial records for all the reasons mentioned but this. This is because the records are not kept to enable employees receive higher rates as this are negotiated despite the records

Answer 2

Answer:

Organized financial records allow workers to receive a higher rate of pay.

Explanation:

Keeping financial records organized helps the company become more aware of its spending, performance and banking relationships. In addition, organized registration is a signal to the market that the company is efficient, which attracts investments and increases competitiveness. However, employee salaries have no connection with the firm's records organization. Salary is stipulated through contracts and what is considered essential is employee skills and productivity.