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Preparation of final accounts - class-XII
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In preparation of final accounts, preparation of manufacturing account is mandatory for all types of business organisation.
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A
False
💡 Explanation:
Final accounts consist mainly of trading, profiit and loss account along with balance sheet. Manufacturing is generally prepared when the business is about manufacturing any product and it shows every information related to manufacturing.
Thus every is not related to manufacturing of products and hence, maufacturing account is not prepared by every firm. So, the statement is false.