Read the following statement and choose the correct alternative Statement 1 Technology used in infor...........

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Read the following statement and choose the correct alternative

Statement 1- Technology used in informal sector is up to date.

Statement 2- Informal sector maintain proper account and record

Botha are wrong

Both are correct

Only 1 is correct

Statement 1 is wrong and Statement 2 is correct

Explanation:

- Statement 1: Technology in the informal sector is often not up to date. This sector typically lacks the resources to invest in the latest technologies, relying instead on older, cost-effective methods.

- Statement 2: The informal sector usually does not maintain proper accounts and records. Businesses in this sector often operate on a smaller scale and may avoid detailed bookkeeping to reduce costs or avoid regulatory scrutiny.

- Option 1: Both statements are wrong.

- Option 2: Both are correct.

- Option 3: Only Statement 1 is correct.

- Option 4: Statement 1 is wrong, and Statement 2 is correct.