HSC Commerce (Marketing and Salesmanship) 12th Board ExamMaharashtra State Board
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What is ‘Balance Sheet’? - HSC Commerce (Marketing and Salesmanship) 12th Board Exam - Book Keeping and Accountancy

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Question

What is ‘balance sheet’?

Solution

A Balance Sheet is a statement which 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.
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APPEARS IN

 2013-2014 (October) (with solutions)
Question 1.1.1 | 1.00 mark
Solution What is ‘Balance Sheet’? Concept: Preparation of Income and Expenditure Account and Closing Balance Sheet.
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