Question

importance and purpose of final account​

Answer 1

· 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:

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.

Explanation:

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