Balance Sheet shows _________________.

The financial performance at a particular date

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The financial position at a particular date

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The financial position for an accounting period

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The financial performance for an accounting period

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Solution

The correct option is B The financial position at a particular date
A balance sheet is a statement which is prepared at the end of the year. It shows the balances of assets and liabilities at the end of the year. It is prepared at a particular point of time. Hence, its said that balance sheet shows the financial position on a particular date.

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