The following is a statement showing the financial Status of a company at any time ........

General Accounting Principles Company Final Accounts

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The following is a statement showing the financial Status of a company at any time

Trading account

Profit & Loss statement

Balance Sheet

Cash Book

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Explanation:

Balance Sheet is a statement showing the financial status of the comapany at any given time. The balance sheet, together with the income statement and cash flow statement, make up the cornerstone of any company's financial statements.It is important to prepare a balance sheet as it gives an insights to the investors about the company’s financial status.