The financial position of an organization at a particular time can be ascertained from the

Accounts - Principles of Accounts

JAMB 1994

A. statement of sources and application of funds
B. statement of retained earnings
C. balance sheet
D. profit and loss account

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Correct Answer: Option C

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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The financial position of an organization at a particular time can be ascertained from the

Correct Answer: Option C

Explanation

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