Question

Give The Specimen of balance Sheet​

Answer 1

Answer:

Meaning of Balance Sheet:

A balance sheet [B/S] may be defined as “a statement drawn upon a given date, generally at the end of each accounting year, to measure the exact financial position of a business, setting forth the various assets and liabilities of the concern at this date.”

From this definition it may be understood that the B/S is a statement of assets and liabilities as on a particular date. Its assets on a given date and its liabilities indicate the financial position of a concern on that date.

Explanation:

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