The following is a statement showing the financial status of the comapany at any given time

  1. Trading account
  2. Profit & Loss statement
  3. Balance Sheet  
  4. Cash Book

Accounting Mcqs Solution

Balance Sheet is a statement showing the financial status of the comapany at any given time. The balance sheet, together with the income statement and cash flow statement, make up the cornerstone of any company’s financial statements.

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