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प्रश्न
______ shows the financial position of the organization.
पर्याय
Trial balance
Profit and Loss account
Balance sheet
Income and Expenditure account
उत्तर
Balance Sheet shows the financial position of the organization.
Explanation:
The Balance Sheet shows the financial position of the organization. It provides a snapshot of the organization’s assets, liabilities, and equity at a specific point in time, typically at the end of an accounting period.
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संबंधित प्रश्न
Explain five uses of Balance Sheet.
It is a financial statement which sets out the assets and liabilities of a trading or non-trading organisation as on a certain date.
The excess of assets over liabilities represents the ______ of the owner.
Why is a Balance Sheet prepared?
Mr. Tate's financial position on 1 December, 2018 was as follows:
Stock ₹ 4,460; Debtors ₹ 890; Creditors ₹ 2 400; Cash ₹ 500; and Fixed assets ₹ 3,000.
- Draw up a statement to show his assets, liabilities and capital on 1.12.2018.
- During the month of December, 2018, the following transactions took place; Sold goods for cash ₹ 4.000; sold the balance goods on credit for ₹ 3 000; received ₹ 2 000 from debtors; paid ₹ 900 to creditors; withdrew ₹ 400 for personal use; allowed and accounted a direct payment of ₹ 500 by a debtor to one of the creditors.
Draw up a statement of his financial position at the end of the month of December 2018.
It is always prepared on a particular date.
Which of the following is not a feature of Balance Sheet?
"A trading account reveals the financial position of an organisation." Comment.
Balance sheet is an Account. Justify.
Receipts and payments account serves as the basis for preparing the balance sheet of non-trading organisation.
