Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 1 - No. 33)
What is the purpose of the statement of financial position?
To show how much cash the company has.
To show the company's revenues and expenses over a period.
To show the assets, liabilities, and equity of the company at a specific point in time.
To show the cash flow activities of the company.
Explanation
The statement shows the financial position.
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