Question

Only Personal and Real Accounts are shown in-
(A) Balance sheet
(B) Trading account
(C) Profit and Loss account
(D) Trial balance

Answer 1

Answer:

Only Personal and Real Accounts are shown in-

(A) Balance sheet

Explanation:

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Answer 2

Only Personal and Real Accounts are shown in  Balance sheet.

Option (A)

Explanation:

• According to financial terms, a balance sheet is something that provides details of the company’s assets, liabilities and equity in a specific point in time.
• It helps the user to identify the position of the company in terms of what it owns, what it owes and who all invested. It is also known as the statement of financial position.

To know more

On dissolution of a firm it's balance sheet revealed total creditors of rs 50000, total capital rs 48000cash balance rs 3000.it asset realised at12%less .what will be loss on relisation

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