Objective type questions :-
Answer in one sentence only.

A statement showing financial position of the business on a particular date.

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Solution

Balance Sheet

Explanation: A Balance Sheet is a statement showing the financial position of a business on a particular date. The balances of all the personal and real accounts are grouped as assets and liabilities and shown in the Balance Sheet.

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Objective type questions :- Answer in one sentence only. A statement showing financial position of the business on a particular date.

Balance Sheet Explanation: A Balance Sheet is a statement showing the financial position of a business on a particular date. The balances of all the personal and real accounts are grouped as assets and liabilities and shown in the Balance Sheet.

Objective type questions :-
Answer in one sentence only.

A statement showing financial position of the business on a particular date.

Balance Sheet

Explanation: A Balance Sheet is a statement showing the financial position of a business on a particular date. The balances of all the personal and real accounts are grouped as assets and liabilities and shown in the Balance Sheet.