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The financial statements consist of: 1)...

The financial statements consist of:
1)Trial balance
2)Profit and loss account
3)Balance sheet
4) II & III

A

Trial balance

B

Profit and loss account

C

balance sheet

D

II & III

Text Solution

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The correct Answer is:
correct answer is option 4 : II & III
At the top of each year, books of account of the business square measure closed and monetary statements square measure ready. monetary statements square measure ready to grasp the gain of the organization for a specific amount and conjointly to grasp the monetary position of the business on a specific date.
Financial statements consist of:
Profit and Loss Account
Balance Sheet.
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