ExamVeda
Login
Home

Balance sheets are prepared

This question belongs to Commerce Accounting
Accounting
?

Balance sheets are prepared

Answer & Solution
Correct Answer: Option D
Balance sheets are prepared annually. It lists the current and fixed assets on the left side of the sheet and liabilities and owner's equity (capital) on the right.
Examveda
Question posted by Examveda
Community

Join the Discussion

1 Comment
Arshid Ahmad
Arshid Ahmad 6 days ago
Correct statement:
“Balance sheets are generally prepared annually. They list current and fixed assets on the right-hand side and liabilities and owner's equity (capital) on the left-hand side.”
Keep Learning

Related Questions on Accounting

Accounting provides information on
A. Cost and income for managers B. Company's tax liability for a particular year C. Financial conditions of an institutions D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets B. Fixed assets C. Intangible assets D. Investments
Patents, Copyrights and Trademarks are
A. Current assets B. Fixed assets C. Intangible assets D. Investments
More Related Questions on Accounting