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Which of the following is regarded as a Position Statement?

Which of the following is regarded as a Position Statement? Correct Answer Balance Sheet

The correct answer is Balance Sheet

Key Points

Balance Sheet: A balance sheet is a financial statement of a company that represents the values of its assets, liabilities, and Shareholder's Equity at a specific time. It basically represents the financial position of a company. For this very reason, it is also called the Position Statement of the company.

Additional Information

  •  Profit and Loss Appropriation Account: This account is prepared after the preparation of the profit and loss account and ascertainment of net profit or a net loss. This account is prepared to distribute the net profit of the firm among the partners after making all the adjustments relating to Interest on Capitals, Interest on Drawings, Salary/commission to partner and transfer to reserve etc. This account contains entries relating to the partner's claim only.
  • Profit and Loss Account: This is an account in a company's books to which gains and income are credited and expenses and losses are debited to reflect the net profit or loss for a certain period
  • Trading Account: A trading account is a statement that is prepared by a business firm to record all the transactions related to the Stock, purchasing of materials, manufacturing expenses, and selling of goods. All the direct expenses like wages, electricity charges, etc are recorded in Trading Account. Its balance denotes gross profit or gross loss.

Related Questions

There are seven persons Amit, Roshan, Ravi, Priya, Amrita, Arpita and Mitul. They participated in a competition where they got different positions. Amit scored the first position while Mitul scored the last position. Priya scored fourth position from the last. Ravi scored one position higher than Priya while Amrita scored one position lower than Priya. Roshan scored higher position than five of them. Who scored the second lowest position?
There are six people Kirti, Kavita, Komal, Khushi, Koel and Kritika, who got different positions in a competition. Kavita got second position while Khushi got third position from the last. Komal’s position was immediately after Kavita and immediately before Khushi. Koel does not get either the first position or the last position. Kirti also does not get the last position. Who got the last position?
H, Y, T, U and P got different ranks based on their marks in the semester examination and viva. H got 3rd rank in the semester exam and 5th rank in the viva. T got 5th position in the semester and 1st position in the viva. P got 2nd position in both exams and viva. Y got 1st position in semester examinations and 4th position in the viva. Who got 3rd position in the viva?
There are six persons P, Q, R, S, T and U, who got different chest numbers in a competition. P got the first position. Q got the third position. R‘s position was immediately before the position of S. There are five people before S. U is between Q and R. What is the position of T?
In a row, certain number of persons are sitting in a row. Monu sits 28th position from right end and Sharda sits 18th position from left end. Rohini is 33rd position from right end. If Rohini and Sharda interchange their position?. Then what is Sharda position from left end after rearrangement?
In a row, Mohini placed 12th position from left end who is 28th position from right end and Yashi placed 17th position from left end. If Mohini and Yashi interchange their position from each other. Then what is the Yashi position from right end?
The angle of elevation of the top of a 36 m tall tower from the initial position of a person on the ground was 60 deg. She walked away in a manner that the foot of the tower, her initial position and the final position were all in the same straight line. The angle of elevation of the top of the tower from her final position was 30 deg. How much did she walk from her initial position?
There are six toys arranged one above the other in form of a stack, the lowermost is numbered 1 and the toy above it as 2 and so on. Each toy is of a different colour Purple, Pink, White, Yellow, Red and Grey. Purple toy is at the even position but not at the top. The red toy is not adjacent to the white or yellow toy. Grey toy is at 5th position. There are two toys between pink and white toy where pink toy is above the white one. White toy is not at the bottommost position. Which toy among the following options is not at an odd position?
Which one of the following statements with regard to factors vitiating consent is correct?
(1) A person is deemed to be in a position to dominate the will of another where he stands in a fiduciary relation to the other
(2) Where a person who is in a position to dominate the will of another enters into a contract with him, the burden of proving that such consent was not induced by undue influence would always be upon the person in a position to dominate the will of the other
(3) Parents shall alwaysbe deemed to be in a position to dominate the will of their children
(4) Presumption of undue influence would always arise when parties are nearly related to each other
Select the correct answer using the given below:
There are six toys arranged one above the other in form of a stack, the lowermost is numbered 1 and the toy above it as 2 and so on. Each toy is of a different colour Purple, Pink, White, Yellow, Red and Grey. Purple toy is at the even position but not at the top. Red toy is not adjacent to white or yellow toy. Grey toy is at 5th position. There are two toys between pink and white toy where pink toy is above the white one. White toy is not at the bottommost position. At which position is the pink toy?