Practicing Success
Practicing Success
CUET Preparation Today
| What is shown by Balance Sheet? |
Financial position on a specific date Accuracy of books of accounts Financial position for a specific period All of the Above |
| Financial position on a specific date |
| The balance sheet, also known as the statement of financial position, is one of the three primary financial statements used by companies to provide a snapshot of their financial health at a specific point in time. Unlike the income statement, which covers a specific period, the balance sheet represents a company's financial position as of a particular date, typically the end of a quarter or a fiscal year. The balance sheet is crucial for investors, creditors, and other stakeholders as it provides insights into a company's assets, liabilities, and shareholders' equity. |
