SSC MCQ Question Ans. Accounting for family and self-employment Enterprise

SSC MCQ Question Ans. Accounting for family and self-employment Enterprise. To maintain life smoothly and nicely, it is very important to have a well-designed plan and an applying accounting system in every sphere of life. Application of appropriate accounts of income and expenditure can make life well balanced and discipline. So we have to spend money on our social and family life associated with income. It is not possible to spend on the basis of the income if the accounts of income and expenditure of the family are not maintained. Even without budgeting of income and expenditure, a family can’t be maintained properly. So every family needs to design the appropriate plan for maintaining family accounts strongly and budget for the project is vital in the case of self-employment enterprise for making one person or a family become self-reliant.

SSC MCQ Question Ans. Accounting for family and self-employment Enterprise

The family is said to be the destination of happiness. For the sake of this happiness, each and every person thinks about living an improved family life. Planning is necessary to lead the family nicely and systematically and application of appropriate accounting is an indispensable part of that plan.  A family without a financial plan can’t maintain discipline life lead. Without maintaining of family income-expenditure account, the family may face indiscipline as a result family happiness may disturb. So maintaining of family income and expenditure account is essential as like business organization. The family is not a business organization so the accounting system is not as like as a business entity since family is a non-profit making continuous organization.

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