Session26- Preparation of financial statements

Which financial statement contains the list of assets & liabilities?

• Income Statement

• Cash flow statement

• Balance sheet

• None of the above

Your bank balance at the end will be reflected in ______.

• Income statement

• Balance Sheet

• Cash flow statement

• None of the above

Your payments and receipts in bank account will be shown in ______.

• Income statement

• Cash flow statement

• Balance Sheet

• None of the above

Where will you write down the expenses incurred during the year?

• Income Statement

• Balance Sheet

• Trial Balance

• None of the above

Tax paid by an individual will appear in ________.

• Balance Sheet
• Income Statement
• Cash flow statement

• Both B & C