Accounting for IGCSE & O level - Final Statements (Section 14 - No. 44)
Which of the following statements describes the main purpose of a Statement of Financial Position?
To show a company's revenues and expenses over a period.
To present a company's assets, liabilities and equity at a specific point in time.
To detail the cash inflows and outflows of a company over a period.
To report the dividends paid to shareholders.
ব্যাখ্যা
The Statement of Financial Position, also known as the balance sheet, presents a snapshot of a company's assets, liabilities, and equity at a specific point in time.