Question

A ______ is a statement of assets and liabilities at the end of the period. It shows the financial position of a business on a certain date and represents the third and final stage.

विकल्प

• Trading Account

• Profit and loss account

• Balance sheet

• Manufacturing account

Answer 1

A Balance sheet is a statement of assets and liabilities at the end of the period. It shows the financial position of a business on a certain date and represents the third and final stage.

Explanation:

Balance Sheet means a financial statement which sets out the assets and liabilities of a trading or non-trading organisation as on a certain date.