Practicing Success
Balance Sheet provides information about the financial position of the enterprise.......... |
Over a period of time At a point of time For a period of time During the period |
At a point of time |
The correct answer is option 2- At a point of time. The balance sheet shows all the assets owned by the concern, all the obligations or liabilities payable to outsiders or creditors and claims of the owners on a particular date. It is one of the important statements depicting the financial position or status or strength of an undertaking. |