Question

what is final Account
​

Answer 1

Explanation:

its a statement which shows profit and loss of an entity and explains us where our business stands on a particular date. Generally it includes the 3 statements

1) trading account

2) profit and loss account

&3) balance sheet

Answer 2

$\huge\bf\purple{Question}$

what is final Account ?

$\huge\bf\red{Answer}$

• Final account gives an idea about the profitability and financial position of the bussiness management ,owners and others interested party

Other information:-

• the term "final" account include the trading account ,the profit and the loss account and the balance sheet.
• final account preparation inbolves preparing a set of accounts and statements at the end of an accounting year.