Accountıng I Deneme Sınavı Sorusu #1313723
Which of the following is true for balance sheet?
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It reports the changes in the capital throughout the period caused by the owner’s capital investments. |
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Revenues and expenses are reported in it. |
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It reports operation results of a business for a specific period of time. |
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It provides information about the financial position of the company. |
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It reports assets and liabilities for a specific time period. |
Yanıt Açıklaması:
Balance sheet reports the assets, liabilities and the owner’s equity in a specific date. In other words, balance sheet provides information about the financial position of the company. In the trial balance you can easily find out asset, liability and owner’s equity accounts which will form the balance sheet.
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