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NATIONAL INSTITUTE OF TECHNOLOGY HAZRATBAL, SRINAGAR 190006 (J&K) (Planning & Development Wing) Tel: 01942102157 Fax: 01942420475ETENDER NOTICE BID DOCUMENT [Two Cover system] Tender No. NITS/PND/ET/2020/CIVIL/07Date:
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The two cover system is a method used by businesses to ensure that financial transactions are properly recorded and reported in two separate sets of books.
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Businesses that are required to follow strict accounting standards or regulations may be required to use the two cover system.
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The purpose of the two cover system is to reduce the risk of fraud and ensure that financial records are accurate and reliable.
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All financial transactions, including income, expenses, assets, and liabilities, must be reported on the two cover system.
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