Accountancy, asked by shabanaqureshi727, 9 months ago

Observation on final accounts

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Answered by Himanksharma

0

Answer:

Final accounts gives an idea about the profitability and financial position of a business to its management, owners, and other interested parties. All business transactions are first recorded in a journal. They are then transferred to a ledger and balanced. These final tallies are prepared for a specific period.

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