The balance sheet of a firm at any particular date is intended to show ……….. ?
Select ONE answer:
- the nature of the firm’s business at that date
- the identity of the firm’s owners at that date
- the financial position of the firm at that date
- the physical size of the firm at that date
Show your workings to arrive at your answer, and explain and justify your reasons:
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This multiple choice question is suitable for Accounting KS5 classes.
The answer is 3
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