Accountancy, asked by Anonymous, 1 year ago

What is Final Accounts ​

Answers

Answered by Alisha3K
6

Final accounts include trading account, profit and loss account and balance sheet usually made for obtaining firm's financial position and performance

Answered by taibak35
6

Answer

Final accounts gives an idea about the profitabilitty 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.

Similar questions