Accounting for IGCSE & O level - Preparation Of Financial Statements (Section 27 - No. 11)
What financial statement is most helpful in determining a partnership's ability to pay its short-term debts?
Income Statement.
Statement of Cash Flows.
Balance Sheet.
Statement of Changes in Equity.
Explanation
The balance sheet shows a company's current assets and liabilities, which are used to assess short-term debt-paying ability.
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