Financial Statements Question:
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Explain why do businesses prepare financial statements?
Answer:
Basically to know the two facts about the business the financial statements are prepared:
-Financial position of the business at any given point of time in financial terms
-Result of operations carried out by the business organization during specific period.
-Financial position of the business at any given point of time in financial terms
-Result of operations carried out by the business organization during specific period.
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