New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    Financial position of the business is ascertained on the

    basis of?
    A Records prepared under book-keeping process Correct Answer Incorrect Answer
    B Trial balance Correct Answer Incorrect Answer
    C Balance Sheet Correct Answer Incorrect Answer
    D Statement of Profit and loss Correct Answer Incorrect Answer
    E Fund Flow Statement Correct Answer Incorrect Answer

    Solution

    The balance sheet is one of the financial statements prepared by a business to provide information about its financial position at a specific point in time. The balance sheet shows the assets, liabilities, and equity of the business, and provides a snapshot of the business's financial position on the date the balance sheet is prepared.

    Practice Next

    Relevant for Exams: