Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 39

Baker Construction is a small corporation owned and managed by Tom Baker.he corporation has 21 employees, few creditors, and no investor other than Tom Baker.hus, like many small businesses, it has no obligation to issue financial statements to creditors or investors.nder these circumstances, is there any reason for this corporation to maintain accounting records