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Financial Statements – With Adjustments — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountFinancial Statements – With Adjustments1 Mark
Question
Balance Sheet is an account.
✓

Answer

False.
Reason: Balance Sheet is a statement and not an account. It has no debit or credit sides. It is only a statement showing the financial position of the firm on a particular date.

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