The following is a statement showing the financial status of the comapany at any given time A. Trading account B. Profit & Loss statement C. Balance Sheet D. Cash Book

Trading account
Profit & Loss statement
Balance Sheet
Cash Book

The correct answer is C. Balance Sheet.

A balance sheet is a financial statement that reports a company’s assets, liabilities, and equity at a specific point in time. It is a snapshot of a company’s financial position and is used to assess its financial health.

A trading account is a financial statement that shows the revenue and expenses of a company from the sale of goods or services. It is used to calculate the company’s gross profit and net profit.

A profit and loss statement is a financial statement that shows the revenue, expenses, and net profit of a company for a specific period of time. It is used to assess the company’s profitability.

A cash book is a financial record that shows all of a company’s cash receipts and payments. It is used to track the company’s cash flow.

Exit mobile version