Answer:
The description of the given question is described in the segment below.
Step-by-step explanation:
Purpose of the balance sheet:
- The objective of something like the balance sheet as well as accounting records would be to disclose a company's financial situation across a certain date.
Usefulness and limitation:
- Everything just provides a picture somewhere after some kind of organization's financial statement of its investments, future or taxation liabilities as well as equities.