Which one of the following financial statement can not be completed unless the other one is completed ?

Question

a. Balance Sheet

b. Profit and Loss Account.

Anayatullah Tahir · Answer

First Statement cannot be completed unless the second one

Muhammad Zubair · Answer

it is a a balance sheet

Ahmed Abd Alwahab Awad Ibrahim · Answer

a. Balance Sheet

Deleted user · Answer

Hi Muhammad,

The Profit and Loss Account is completed before Balance Sheet because the current profit or loss should be filled in the Equity part of the B/S

Thank you

Mohammad Iqbal Abubaker · Answer