Home › CBSE Class 11 (Commerce) › Accountancy › Financial Statements of Sole Proprietorship › The balance sheet shows the financial position i…
The balance sheet shows the financial position in the form of what?
ASales and purchases
BDebits and credits
CReceipts and payments
DAssets and liabilities
Answer & Solution
Correct answer: D. Assets and liabilities
Position is shown through what the business owns, owes and the owner's capital.
Related questions
Why is the government interested in a business's profitability?A trial balance lists wages, salaries, rent and bad debts. Which is the only direct expensEntries not recorded in any special book go into which book?Where are all credit sales recorded?Which book records all cash and bank transactions?If total debits and credits in the trial balance agree, what is assumed?What is the basic objective of preparing financial statements?For managers, financial statements work like what?