The financial statement which is an expression of the accounting equation is the
-
A.
Trading account -
B.
Profit and loss account -
C.
Balance sheet -
D.
Statement of cash flow
Correct Answer: Option C
Explanation
A balance sheet is a financial statement that reports a company’s assets, liabilities and shareholders’ equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.