Balance Sheet is a

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Question

This question was previously asked in

TNUSRB SI 2010 Official Paper (Held on 04 July 2010)

Answer 1

Correct Answer is Statement

Key Points:Balance sheet-

A financial statement that shows a company's assets, liabilities, and shareholder equity at a certain point in time is referred to as a balance sheet.
Sources of fund means from where the company raises finance and raising finance involve obligations.
And the application of funds includes buying assets or other properties which are assets of a company.
Therefore, this is also a statement of sources of funds and application of funds.
A sources and uses of funds statement, also known as a flow of funds report, is a way to show how key funding operations affected and were influenced by a farm's performance over the course of an accounting period.