Which of the following should ordinarily determine the retention period of a financial record?

Type: MCQ • Marks: 1

A. Personal preference of the record clerk

B. Applicable legal, regulatory, audit and administrative requirements

C. Availability of storage space alone

D. Age of the employee who created it

Explanation

Retention decisions must be based on authoritative requirements and the continuing value of the records.

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UPSC Principal & Vice Principal Management Finance Administration

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