Final transactions are summarized in what type of statement?

The correct answer is financial statement, which serves as an essential tool for summarizing a company's financial transactions over a specific period. A financial statement provides a comprehensive overview of an organization's financial health, detailing its assets, liabilities, equity, revenues, and expenses. This document is crucial for stakeholders, including management, investors, and creditors, as it aids in understanding the company's performance, financial position, and cash flows.

Other options, while relevant in financial reporting, do not encapsulate the complete summary of all final transactions. A bank statement primarily reflects the transactions that have occurred in a bank account, giving insight into cash flows but not a full picture of the company's financial position. A profit and loss account is a component of financial statements focused specifically on income and expenses over a period but does not encompass the entire financial situation of a business. A purchase register, on the other hand, is a detailed record of purchases made by a business and is more operational than a summary of final transactions. Thus, financial statements integrate all these aspects and provide the most inclusive summary.