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Current Affairs - Finance - Discussion

Discussion Forum : Finance - Latest Current Affairs (Q.No. 275)
2019-07-19 Finance
275.
Which of the following best describes the balance sheet?
It includes a listing of assets at their market values.
It includes a listing of assets, liabilities, and stockholders' equity at their market values.
It provides information pertaining to a company's assets and the claims against sources of financing for those assets.
It provides information pertaining to a company's liabilities for a period of time.
Answer: Option
Explanation:
Balance Sheet includes a listing of assets, liabilities, and stockholders' equity at their market values.
Discussion:
1 comments Page 1 of 1.
CA Megha Mantri said:   6 years ago
Option C is correct because it completely defines both assets and liabilities including equity. Whereas in option B due to mentioning the basis of valuation as market value, this option seems incorrect.
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