Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 20 - No. 50)
What is the function of a balance sheet?
Record the income and expenditure of a club.
Summarise the receipts and payments.
Show the financial position of a club.
Shows the cash flow of a club.
Explanation
A balance sheet displays the assets, liabilities, and the equity of a club.
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