Question:
Final Account is/an
Final Account is/an
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Final Accounts summarize a business's financial performance and position.
Updated On: Nov 12, 2025
- Ledger
- Account and Statement
- Statement
- Account and Statement
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The Correct Option is B
Solution and Explanation
Step 1:
Final Accounts include the Trading Account, Profit and Loss Account (which are accounts), and the Balance Sheet (which is a statement).
Step 2:
This combination makes it both an account and a statement.
Step 3:
Therefore, the correct option is (B) Account and Statement.
Final Accounts include the Trading Account, Profit and Loss Account (which are accounts), and the Balance Sheet (which is a statement).
Step 2:
This combination makes it both an account and a statement.
Step 3:
Therefore, the correct option is (B) Account and Statement.
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