Which of the following shows summary of a company's financial position at a specific date?

C) Balance Sheet

C) Balance Sheet

Balance sheet

It shows companies tangible and intangible asset and liability position on particular date.

P/L shows the financial performance of the company.
Cashflow statement shows the liquidity position of the company.
Balance Sheet shows the Financial Position of The Company.

Balance sheet

The answer is Balance sheet which is now known as Statement of Financial Position

 

Profit and Loss (known as statement of comprehensive income) indicates the performance of the entity (operational and otherwise)

 

It is important to note that Cash Flows do not indicate the liquidity of the entity. It actually indicates the cash generated and spend on operational, investment and financing activity during the period.

C) Balance Sheet

C) Balance Sheet

C

Trial Balance shows the account balances of each and every account/ledger as on date.
Balance sheet shows the financial position (assets and liabilities) Profit and Loss shows the performance.
(income and expenditure) Cashflow shows the liquidity.( inflow and outflow of cash and bank)

Option C) Balance Sheet is the right answer