The correct answer is: A. For the whole year
A balance sheet is a financial statement that reports a company’s assets, liabilities, and equity at a specific point in time. It is prepared at the end of each accounting period, which is usually a year. The balance sheet shows the company’s financial condition at that point in time, and it can be used to compare the company’s financial performance over time.
Option B is incorrect because a balance sheet does not show the financial condition of an organization on the day on which it is prepared. The balance sheet shows the financial condition of an organization at a specific point in time, which is usually the end of an accounting period.
Option C is incorrect because a balance sheet does not show the financial condition of an organization for a month. The balance sheet shows the financial condition of an organization at a specific point in time, which is usually the end of an accounting period.
Option D is incorrect because a balance sheet does not show the financial condition of an organization for a week. The balance sheet shows the financial condition of an organization at a specific point in time, which is usually the end of an accounting period.