Question

Which of the following statements shows the financial position of a company as at a given date?

Options

• Statement of Profit & Loss

• Cash Flow Statement

• Balance Sheet

• Income Statement

Answer 1

Balance Sheet

Explanation:

The balance sheet is the only financial document that presents a company’s financial health as a “snapshot” on one specific date (e.g., as of 31st March). It strictly details what the company owns (assets) and owes (liabilities) at that single point in time. All other given options track performance and cash movements flowing over a period of time (like a whole month or year).