The balance sheet summarizes the financial position of a company for one _________

one specific point of time

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one day

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one month

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Solution

The correct option is A
one specific point of time

The balance sheet summarizes the financial position of a company for one specific point in time.

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Similar questions

Q. Classify the following transactions as Operating Activities for a financial company and a non-financial company:

(a) Purchase of Shares on a Stock Exchange.	(b) Dividend received on Shares.
(c) Dividend paid on Shares.	(d) Loans given.
(e) Loans taken.	(f) Interest paid on borrowings.

Q. Which of the following is not shown on the liability side of a balance sheet of a company?

Prepare a common size Balance Sheet and comment on the financial position of G Ltd. and L Ltd. The Balance Sheet of G Ltd. and L Ltd. as at 31.03.2018 are given below :

$\begin{matrix} Particulars & Note & G.Ltd & L. Ltd No. I. EQUITY AND LIABILITIES: & Rs & Rs (1) Shareholder's Funds & 3, 00, 000 & 4, 00, 000 (2) Non-Current Liabilities & 2, 00, 000 & 3, 00, 000 (3) Current Liabilities & 1, 00, 000 - -------- - & 50, 000 - -------- - TOTAL & 6, 00, 000 - -------- - - -------- - & 7, 50, 000 - -------- - - -------- - II. ASSETS: (1) Non-Current Assets (i) Tangible Assets & 2, 50, 000 & 3, 00, 000 (ii) Intangible Assets & 1, 50, 000 & 1, 00, 000 (2) Current Assets & 2, 00, 000 & 3, 50, 000 TOTAL & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 6, 00, 000 - -------- - - -------- - & ¯ ¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯ ¯ 7, 50, 000 - -------- - - -------- - \end{matrix}$

Q. A company was incorporated on 1st January, 2014. Its financial year will be _________.

Which of the following would a company use as the base amount when completing a common size analysis on a balance sheet?

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The balance sheet summarizes the financial position of a company for one _________

The correct option is A one specific point of time The balance sheet summarizes the financial position of a company for one specific point in time.

The correct option is A
one specific point of time

The balance sheet summarizes the financial position of a company for one specific point in time.