The balance sheet is a __________ of the assets, liabilities and capital of concern as on particular date.

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Solution

The correct option is B Statement
The balance sheet indicates the financial position of a firm on a particular date. It is prepared as a statement showing all the assets and liabilities of the firm.

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Similar questions

Q. The arrangement of assets and liabilities in accordance with a particular order is known as _________ of balance sheet.

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Prepare a Common size Balance Sheet of the Xerox Ltd. Their Balance Sheet as at 31-03-2017 and 31-03-2018 was as follows:

$\begin{matrix} Particulars & 31-03-2017 & 31-03-2018 (Rs) & (Rs) I . EQUITY AND LIABILITIES (1) Shareholders' Funds: (a) Share Capital & 9, 00, 000 & 12, 00, 000 (b) Reserve and Surplus & 4, 00, 000 & 3, 50, 000 (2) Current Liabilities : (a) Trade Payables & 2, 00, 000 & 2, 50, 000 Total & 15, 00, 000 & 18, 00, 000 I I . ASSETS (1) Non-current Assets : (a) Fixed Assets & 10, 00, 000 & 16, 00, 000 (2) Current Assets & 5, 00, 000 & 2, 00, 000 Total & 15, 00, 000 & 18, 00, 000 \end{matrix}$

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The balance sheet is a __________ of the assets, liabilities and capital of concern as on particular date.

The correct option is B StatementThe balance sheet indicates the financial position of a firm on a particular date. It is prepared as a statement showing all the assets and liabilities of the firm.

The correct option is B Statement
The balance sheet indicates the financial position of a firm on a particular date. It is prepared as a statement showing all the assets and liabilities of the firm.