Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 37 - No. 5)
What is meant by a business's 'financial position'?
The amount of money the business owes to its suppliers.
The business's assets minus its liabilities.
How well the business is doing in the market.
The value of the business's total resources
Explanation
The financial position of a business describes the overall value of the business at a specific point in time.
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