Question

Q.No 17: a balance sheet is a
statement of the assets and liabilities
as on a given date :
O True
O False​

Answer 1

Answer:

it's true

The balance sheet is a statement of assets and liabilities including the owner's equity at a particular date of a business concern. Its main task is to exhibit the financial position of a business concern at a particular date. ... The total assets are equal to the total liabilities and owner's equity.