Q259
Which of the following financial statements show the financial health of an organisation at a stated point of time?
A.
Balance sheet
AnswerB.
Trading and Profit & Loss account
C.
Cash flow statement
D.
Statement of retained earnings
Answer: Option A
Solution
Answer: Option A
Solution:
Balance sheet financial statements show the financial health of an organisation at a stated point of time. A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.