Question

explain the importance and purpose of final account

Answer 1

Answer:

Final accounts are those accounts that are prepared at the final stage of an accounting period. These accounts show the financial position of a business and in addition to that also help in determining the profitability of the business. Trial balance is used to prepare the final accounts of an organisation.

Answer 2

Answer:

here is your a answer

Explanation:

The accounts which are prepared at the final stage of the accounting cycle to know the profit or loss and financial position of a business concern are called Final Accounts.

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