balance sheet is known as income statement true or false
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4
Answer:
A balance sheet though is a position statement but P & L Account is an income statement depicting the profits and losses during a course of time. The Asset side of the balance sheet shows all the assets of the company in order of their liquidity
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1
YOUR ANSWER IS FALSE
Explanation:
BECAUSE THE BALANCE SHEET DISPLAYS WHAT A COMPANY OWNS,AND ON THE OTHER HAND INCOME STATEMENT SHOWS THE FINANCIAL HEALTH OF COMPANY OR WETHER OR NOT THE COMPANY IS PROFITABLE
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