State what is end product of financial a | Class 11 Accountancy Chapter Introduction to Accounting, Introduction to Accounting NCERT Solutions
Question: State what is end product of financial accounting?
Answer:

- Income statements (Trading and/or Profit and Loss Account)− An income statement that includes Trading and Profit and Loss Account, ascertains the financial results of a business in terms of gross (or net) profit or loss.
- Balance Sheet− It depicts the true financial positions of a business that provides required information like assets and liabilities of a business firm, to the users of accounting information like owners, creditors, investors, government, customers, shareholders etc.
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Welcome to the NCERT Solutions for Class 11 Accountancy - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 2: State what is end product of financial accounting?....
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