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The preparation of a final accounting is the last stage of the accounting cycle. It determines the financial position of the business. Under this, it is compulsory to make a trading account, the profit and loss account, and balance sheet. The term "final accounts" includes the trading account, the profit and loss account, and the balance sheet.
The board conducts the examination during the period of February–March. Previously it was taken in March to April every year. In this exam, mathematics, science (physics, chemistry, biology), and social science (history, geography, political science, economics) are compulsory, with any two languages (official language of medium and foreign/schedule languages).
Financial statements display the income and expenditure for the company and a summary of the assets, liabilities, and shareholders' or owners' equity of the company on the date to which the accounts were prepared. Asset, expense, and dividend accounts have normal debit balances (i.e., debiting these types of accounts increases them).
A petty cash book is a record of small-value purchases before they are later transferred to the ledger and final accounts; it is maintained by a petty or junior cashier. This type of cash book usually uses the imprest system: a certain amount of money is provided to the petty cashier by the senior cashier. This money is to cater for minor ...
Those who wish to adopt the textbooks are required to send a request to NCERT, upon which soft copies of the books are received. The material is press-ready and may be printed by paying a 5% royalty, and by acknowledging NCERT. [11] The textbooks are in color-print and are among the least expensive books in Indian book stores. [11]
Download as PDF; Printable version; In other projects Wikidata item; Appearance. move to sidebar hide. Final Account may refer to: Final Account, 2020 ...
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The International Association for the Evaluation of Educational Achievement (IEA)'s Trends in International Mathematics and Science Study (TIMSS) [1] is a series of international assessments of the mathematics and science knowledge of students around the world. The participating students come from a diverse set of educational systems (countries ...