Question

1. Define accounting
2. State the end product of financial accounting​

Answer 1

Answer:

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.

The end product of financial accounting are Trading account, Profit and loss account and Balance sheet.

Answer 2

Answer:

Answer is given below

Explanation:

1.the process or work of keeping financial accounts.

2.The end product of financial accounting are Trading account, Profit and loss account and Balance sheet.