Which of the following statement measures the financial position of the entity on particular time?
مندرجہ ذیل میں سے کون سا بیان مخصوص وقت پر ہستی کی مالی حیثیت کی پیمائش کرتا ہے؟
- Income Statement
- Balance Sheet
- Cash Flow Statement
- Statement of Retained Earning
Explanation
The term balance sheet refers to a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time.
Balance sheets provide the basis for computing rates of return for investors and evaluating a company's capital structure.
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