__________ is prepared to know the financial position.

Trading account

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Profit & loss Account

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Both

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None

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Solution

The correct option is B Profit & loss Account
A company's financial situation is defined by its assets and liabilities. A company's financial position also includes shareholder equity. All of this information is presented to shareholders in the balance sheet.

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__________ is prepared to know the financial position.

The correct option is B Profit & loss AccountA company's financial situation is defined by its assets and liabilities. A company's financial position also includes shareholder equity. All of this information is presented to shareholders in the balance sheet.

The correct option is B Profit & loss Account
A company's financial situation is defined by its assets and liabilities. A company's financial position also includes shareholder equity. All of this information is presented to shareholders in the balance sheet.