Question:
Balance Sheet provides information about the financial position of the enterprise:
Balance Sheet provides information about the financial position of the enterprise:
Updated On: Nov 4, 2024
- At a particular date
- Over a period of time
- For a period of time since its inception
- For the last 5 years
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The Correct Option is A
Solution and Explanation
A balance sheet provides a snapshot of an enterprise’s financial position at a specific point in time, detailing assets, liabilities, and equity. It does not reflect performance over a period but rather summarizes the financial standing at a particular date.
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