Multiple choice general knowledge

Balance sheet is an --?

  1. Accounts

  2. Statement

  3. Ledger

  4. Journal
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A balance sheet is a financial statement, not an account, ledger, or journal. It presents the financial position of an entity at a specific point in time, showing assets, liabilities, and equity. Accounts are individual records in ledgers, ledgers are collections of accounts, and journals record transactions chronologically - none of these describe the balance sheet.

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