Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Analysis of Financial Statements

Question:

Balance Sheet provides information about the financial position of the enterprise..........

Options:

Over a period of time

At a point of time

For a period of time

During the period

Correct Answer:

At a point of time

Explanation:

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.