Question

11. The balance in receivable as on the date of balance sheet is converted at rate ___


A] On the date of sale of goods

B] On the date of balance sheet

C] On the date of subsequent recovery

D] On the date of first recovery​

Answer 1

The balance in receivable as on the date of balance sheet is converted at rate B] On the date of balance sheet

What is a balance sheet?

• A balance sheet can be described as a paper in financial position of the concerned person, company or organization is mentioned.
• The balance sheet date is the mentioned date on the paper on which statement about the financial position of a person, company or organization is stated.
• The balance mentioned on this sheet is receivable based on the date of the balance sheet.

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