JAMB - Accounts Principles Of Accounts (1994 - No. 14)
The financial position of an organization at a particular time can be ascertained from the
statement of sources and application of funds
statement of retained earnings
balance sheet
profit and loss account
Explanation
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity. It simply shows the financial position of a business for a particular given period
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