Social Sciences, asked by rajveersingh795, 1 year ago

what is meant by term final accounts

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Answered by aayushi45
8
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. ... The term "final accounts" includes the tradingaccount, the profit and loss account, and the balance sheet.



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