One Line Answer
Answer in one sentence only.
What is the Balance Sheet?
Advertisement Remove all ads
Solution 1
A Balance Sheet is a statement that contains all the assets and liabilities of the business enterprise. It helps in knowing the exact financial position of the business. Liabilities are shown on the left-hand side of the Balance Sheet whereas Assets are shown on the right-hand side.
Solution 2
A balance sheet is a statement showing financial position of the firm at a date.
Concept: Introduction of Final Accounts
Is there an error in this question or solution?
Advertisement Remove all ads
Advertisement Remove all ads
Advertisement Remove all ads
