The Statement of Liabilities and Assets is:

  1. Trial Balance
  2. Balance Sheet
  3. Profit & Loss A/c
  4. None of these
Anurag Mishra Professor Asked on 28th November 2015 in Economics.
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Answer: (2) Balance Sheet

A statement which show the original picture or face of a company, firm or proprietors. In the other word balance sheet presents a company’s financial position at the end of the year or a specified date or time. For example, the amounts reported on a balance sheet dated December 31, 2015.

Anurag Mishra Professor Answered on 28th November 2015.
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