ICSE Class X Commercial Applications 2019 Solved Papers
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Question : 7 of 35
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State any two uses of a Balance Sheet.
Solution:
The main uses of balance sheet are :
(i) Balance sheet shows the assets owned and liabilities owed by a non-trading organisation on a particular data.
(ii) It depicts the capital fund of the organisation.
(iii) It shows the financial position of the organisation at the end of the financial year.
(any two)
(i) Balance sheet shows the assets owned and liabilities owed by a non-trading organisation on a particular data.
(ii) It depicts the capital fund of the organisation.
(iii) It shows the financial position of the organisation at the end of the financial year.
(any two)
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