Question 11
Final Accounts of a Sole TraderA balance sheet is prepared
- A.for the year ended ……19 x 1.
- B.for ……19 x 1.
- C.as at ……19 x 1.
- D.in the year…… 19 x 1.
- E.up to…… 19 x 1.
Show the answer and explanation
Answer: C (as at ……19 x 1.)
Explanation
A balance sheet shows the position at one date, so it is headed 'as at'.