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What is the purpose of the final accounts?

Practice Questions

1 question
Q1
What is the purpose of the final accounts?
  1. To record daily transactions
  2. To summarize the financial position and performance of a business
  3. To prepare tax returns
  4. To manage cash flow

Questions & Step-by-step Solutions

1 item
Q
Q: What is the purpose of the final accounts?
Solution: Final accounts summarize the financial position and performance of a business at the end of an accounting period.
Steps: 0

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