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Financial Statements — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountFinancial Statements1 Mark
Question
What are Financial Statements?
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Answer

Financial statements are those statements which provide information about the profitability and the financial position of a business. The term Financial Statements includes at least two statements which are:
  1. Balance Sheet.
  2. Trading and Profit & Loss A/c.

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