Name the financial statements prepared by a business ______________.

Trading account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Profit and loss account

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Balance sheet

No worries! We‘ve got your back. Try BYJU‘S free classes today!

All of the above

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D All of the above
Financial statements is a formal record of the financial activities and position of a business, person or other entity. A business entity uses financial statement to communicate about its financial information with interested parties, includes investors and creditors. The purpose is to reveal the financial position of the enterprise, the result of its recent activities and an analysis of what has been done with earnings.

Suggest Corrections

Similar questions

______ is prepared to ascertain the financial result of a business operation over a given period of time and ______ shows the financial position of a business at a particular date.

A financial document that indicates the success or failure of a business trading over a period of time is called?

'The overall financial health of a business is determined by the quality of its financial management'. In light of the above statement, discuss some of the aspects which affect the financial health of a business.

Q. Financial statement are prepared to provide adequate, _______ and periodical information about economic resources and obligations of a business firm.

Q. Which of the following is a time span in which the total life of a business is divided for the purpose of preparing financial statements?

Join BYJU'S Learning Program