Which of the following statement shows the financial position of a business entity as on date

a) income statementb) balance sheetc) trial balanced) cash flow statement

Question

Business

Kaylee

22 April, 16:48

Which of the following statement shows the financial position of a business entity as on date

a) income statementb) balance sheetc) trial balanced) cash flow statement

+2

Answers (1)

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Talia Gardner · Answer 1

b) balance sheet

Explanation:

Balance sheet: The assets liabilities and stockholder equity are reported in the balance sheet. The accounting equation that is displayed below is used in this:

Total assets = Total liabilities + stockholder equity

The balance sheet debit and credit side should always be equal and balanced.

In addition, it is always prepared on the date specified plus it is also reflects the financial position, financial performance of the company.

Which of the following statement shows the financial position of a business entity as on datea) income statementb) balance sheetc) trial balanced) cash flow statement

Which of the following statement shows the financial position of a business entity as on date

a) income statementb) balance sheetc) trial balanced) cash flow statement