why do we prepare balance sheet as on a particular date and
not for a year?
Answer / d.subramanian
At present or at a particular date what is the value(Net worth) of the company viz. cash,payable , receivable , capital and assets from income generated over a period of time ie. p&L. Hence Balance sheets prepared as on date and P&L for the period.
Is This Answer Correct ? | 1 Yes | 2 No |
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