One thing I knew that final variables have to be initialized in very much the same line you declare them. So I embarked to see how things could go actually, rather than hearsay literature.So, following are a few code snippets that I tried, and obviously now, the first line of the paragraph is not absolutely correct.
Note: "final" variables are not always constants, as their values might not be available during compile time, and may be taken whilst the application is running.