according to which act a business is required to prepare balance sheet
Answers
Answered by
0
according to
companies act 2013
companies act 2013
Answered by
1
Answer:
According to the Companies Act, 2013, every business is required to prepare balance sheet.
Explanation:
Companies Act, 2013 explains many requirements on the Accounting Standards that are to be followed while preparing the detailed profit and loss statement and also the balance sheet of a company.
Balance sheet provides detailed information about the company's business and financial condition for a particular financial year.
It is a consolidated information about the company's business capital, assets, liabilities for the specific time period. Details about expenditure and income of previous financial year are included.
Similar questions