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The status report on assets and obligations shows the current success or failure of the company. Investors or creditors ask for these types of documents.

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โˆ™ 2014-06-13 22:07:29
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Q: When should the balance sheet be prepared?
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Related questions

Why comparative balance sheet is prepared?

Balance sheet is prepared to know the financial position on the Business/Company.


Why balance sheet prepared?

Balance sheet is prepared to show the overall performance of business from it's inception to till date.


The balance sheet should be prepared when?

before the income statement and the statement of owner's equity


The Retained Earnings Statement should be prepared?

after income statement, before the balance sheet


Which statements are prepared from the general ledger with no changes to the account balance?

balance sheet


What is the difference between cash book and cash flow statement?

cash book prepared before balance sheet . cash flow statement prepared after balance sheet


Why will cash flow ending balance not equal cash and bank balance in the balance sheet?

Cash balance from cash flow statement should always tally with balance sheet cash balance otherwise it means that cash flow statement is not prepared accurately and proper investigation should be launched to check the discrepancies .


Do the cash and bank balance in balance sheet should equal to the cash flow ending balance?

Cash Flow Statement's ending balance should match with the ending balance of cash in the balance sheet that is why cash flow statement is prepared to see the complete information about cash flow during the period if it doesn't match it means something wrong.


How should the heading of a balance sheet appear?

The heading of a balance sheet should have a blue header title.


The cash budget must be prepared before you can complete the?

budgeted balance sheet


Why balance sheet should be balance?

Balance sheet should always be equal or balanced otherwise it means there is some error in any transaction.


Why are liabilities on balance sheet?

Liabilities are payable in future and all future activities should be shown in balance sheet that's why liabilities are in balance sheet.

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