The statement of financial position and the balance sheet are synonyms

Related MCQs

• On a consolidated balance sheet, if the shares of a company have been bought for more than the balance sheet value then the difference would appear as:
• If amalgamation is in the ..............., the General Reserve or Profit and Loss A/c balance will not be shown in the balance sheet.
• Which of the following is true about financial statements? I)Financial statement gives a summary of accounts. II) Financial statements can be stated as recorded facts.
• An entity shall explain how the transition from previous GAAP to IFRSs __________ its reported financial position, financial performance and cash flows.
• Whether financial reviews by management, environment reports and value added financial statements are outside the scope of international financial reporting standards (IFRSs)?
• Which of the following statements are true? I) Financial statements are only interim report. II) Financial statements are also known as annual records. III) Financial statements are historic.
• Which of the following is not a component of a Statement of Financial Position?
• The ratio which depicts the relationship between two items, one of which is drawn from the Balance Sheet and the other from the revenue account
• Acceptances, endorsements and obligations on behalf of a customer will be shown as ----- in the balance sheet of a company.
• Preparation of consolidated Balance Sheet of Holding Co. and its subsidiary company as per