Question 18 of 30
Q.Balance Sheet shows the ______ of the business.
(a) Sales
(b) Profitability
(c) Purchases
(d) Financial Position
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2024MCQ· 1mImportance★★★★★
60% · 18/30 Questions
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Start your 14-day free trial to unlock the full solution →A Balance Sheet shows the financial position of a business on a particular date.
The Balance Sheet is a statement (not an account) prepared at the end of the accounting period listing all the assets and liabilities of the business as on a particular date. It therefore reveals the financial position — the soundness or solvency — of the business: what it owns (assets) and what it owes (liabilities and capital).
- Sales and purchases are shown in the Trading Account. …
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