Financial Position of the business is ascertained on the basis of _____________.

Records prepared under book-keeping process

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Trial balance

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Accounting reports

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None of the above

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Solution

The correct option is C Accounting reports
Accounting reports give a summarized account of the financial information of the entity and it is a final stage, before which book keeping, preparation of trial balance and other activities are undertaken.

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Financial Position of the business is ascertained on the basis of _____________.

The correct option is C Accounting reportsAccounting reports give a summarized account of the financial information of the entity and it is a final stage, before which book keeping, preparation of trial balance and other activities are undertaken.

The correct option is C Accounting reports
Accounting reports give a summarized account of the financial information of the entity and it is a final stage, before which book keeping, preparation of trial balance and other activities are undertaken.