Question

______ shows the financial position of the organization.

Options

• Trial balance

• Profit and Loss account

• Balance sheet

• Income and Expenditure account

Answer 1

Balance Sheet shows the financial position of the organization. 

Explanation:

The Balance Sheet shows the financial position of the organization. It provides a snapshot of the organization’s assets, liabilities, and equity at a specific point in time, typically at the end of an accounting period.