Business income and expenses should be tracked contemporaneously for all of the following reasons, EXCEPT:

a. The IRS requires businesses to enter income and expenses into books and records within five business days.

b. It is easier to get a more accurate picture of the profitability of the business.

c. The business owner is less likely to misplace receipts or forget about expenses.

d. Good, up-to-date records can make applying for loans easier.