Question - 6
Consider the following statements about balance sheet of a company -
1. It is always prepared from the point of view of the firm, company or business, and not from that of its owners, creditors, directors or employees.
2. The financial relationship of the business of its owners is shown in the amount of capital, reserves and undistributed profit.
3. It always relates to a particular period of time
Which of the statements given above is / are correct?
- A 1,2 and 3
- B 1 and 2
- C 1 only
- D 2 only
