Question

Q.25 How Financial statements of any
business organisation helps in
settlement of tax liability, facilitates
in taking loans and acts as a proof in
the court of law?​

Answer 1

Answer:

While it may sound boring or esoteric, financial accounting plays a key role that allows businesses to keep track of all their financial transactions. It is the process in which companies record and report the pieces of financial data that go in and out of its business operations that allow both company managers and outside investors and analysts to understand the company's health and make informed decisions.

Explanation:

I HOPE THIS WILL HELP YOU!!!