Question
Download Solution PDFBalance Sheet is a
This question was previously asked in
TNUSRB SI 2010 Official Paper (Held on 04 July 2010)
Answer (Detailed Solution Below)
Option 1 : Statement
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TNPSC Group 2 CT : General Tamil (Mock Test பயிற்சித் தேர்வு)
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Detailed Solution
Download Solution PDFCorrect 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.
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