The financial statement which is an expression of the accounting equation is the

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.

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