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Which of the following shows summary of a company's financial position at a specific date?

A) Profit & Loss Account B) Cash Flow Statement C) Balance Sheet

Financial Accounting
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Question ajoutée par Adnan Mustafa , Credit Controller , National Refreshment Company LLC
Date de publication: 2013/06/15
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Mohamed El Machichi
par Mohamed El Machichi , Purchase Manager , Berkat Madinah Trading Sdn.Bhd

C) Balance Sheet

Zeeshan Ali Soofi
par Zeeshan Ali Soofi , Accountant , Al Mona Auto Repair Workshop LLC

C) Balance Sheet

santhosh Kaniyan
par santhosh Kaniyan , Financial advisor , orient insurance pjsc

Balance sheet

It shows companies tangible and intangible asset and liability position on particular date.

SALIK RAFIQUE
par SALIK RAFIQUE , Lecturer , PAC Group of Colleges

P/L shows the financial performance of the company.
Cashflow statement shows the liquidity position of the company.
Balance Sheet shows the Financial Position of The Company.

Prince Ninan
par Prince Ninan , Audit Executive , Lewis & Pecker

Balance sheet

Zahid Hussain Palana
par Zahid Hussain Palana , Group Finance Manager , Ports Customs and Free Zone Corporation

The answer is Balance sheet which is now known as Statement of Financial Position

 

Profit and Loss (known as statement of comprehensive income) indicates the performance of the entity (operational and otherwise)

 

It is important to note that Cash Flows do not indicate the liquidity of the entity. It actually indicates the cash generated and spend on operational, investment and financing activity during the period.

Hesham ElMosallamy
par Hesham ElMosallamy , Senior Treasurer , Telecom Egypt

C) Balance Sheet

Abdul Nasser Mothana
par Abdul Nasser Mothana , Compliance Officer , International Medical Corps

C) Balance Sheet

Sameh EL-Ghandour
par Sameh EL-Ghandour , Chief Accountant , Mohamed Hmoud AL-Shaya Co. W.L.L. - Property Division

C

Utilisateur supprimé
par Utilisateur supprimé

Trial Balance shows the account balances of each and every account/ledger as on date.
Balance sheet shows the financial position (assets and liabilities) Profit and Loss shows the performance.
(income and expenditure) Cashflow shows the liquidity.( inflow and outflow of cash and bank)

Syed Muntazir
par Syed Muntazir , Accountant , AL BARAKAH DATES FACTORY LLC

Option C) Balance Sheet is the right answer

 

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