Accounting for IGCSE & O level - Accounting Procedures (Section 17 - No. 10)
What is the primary role of the balance sheet?
To show a company's revenues and expenses.
To show a company's assets, liabilities, and equity at a specific point in time.
To track the cash flow of a company.
To determine the cost of goods sold.
Explanation
The balance sheet gives a snapshot of a company's financial position.
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