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Which of the following statement shows the financial position of a business entity as on date a)income statementb)balance sheetc)trial balanced)cash flow statement
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Which of the following statement shows the financial position of a business entity as on date

a)income statementb)balance sheetc)trial balanced)cash flow statement

User SINDHYA PETER
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1 Answer

5 votes

Answer:

b) balance sheet

Step-by-step explanation:

Balance sheet: The assets liabilities and stockholder equity are reported in the balance sheet. The accounting equation that is displayed below is used in this:

Total assets = Total liabilities + stockholder equity

The balance sheet debit and credit side should always be equal and balanced.

In addition, it is always prepared on the date specified plus it is also reflects the financial position, financial performance of the company.

User Brad Cunningham
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