Question on: WAEC Accounting - 2016
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
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Correct Option: C
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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