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Question
__________ is a summary of all assets and liabilities on a particular date.
__________ is a summary of all assets and liabilities on a particular date.
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Solution
The correct option is D Balance Sheet
A balance sheet is a
statement of the financial position of a business which states the assets,
liabilities and owner's equity at a particular point in time.
It helps the investors to know the earning
capacity of the firm and the dividend pay-out ratio. It also provides valuable
information about the existence of the firm after scrutinising some financial
ratios to the creditors and investors by which they can take proper decisions.
A balance sheet is a statement of the financial position of a business which states the assets, liabilities and owner's equity at a particular point in time.
It helps the investors to know the earning capacity of the firm and the dividend pay-out ratio. It also provides valuable information about the existence of the firm after scrutinising some financial ratios to the creditors and investors by which they can take proper decisions.
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