Final Accounts Quiz

What gives an idea about the profitability and financial position of a business?

• Journal

• Final accounts

• Trial Balance

• Ledger

Where are all business transactions first recorded?

• Ledger

• Trial Balance

• Final accounts

• Journal

Which of the following is prepared for a specific period?

• Final accounts

• Ledger

• Journal

• Trial Balance

What is the last stage of the accounting cycle?

• Final accounts

• Journal

• Trial Balance

• Ledger

Which accounts are compulsory to make under final accounting?

• Trading account, Profit and loss account, Balance sheet

• Profit and loss account, Balance sheet, Cash flow statement

• Profit and loss account, Balance sheet, Ledger

• Trading account, Balance sheet, Cash flow statement