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Introduction to Partnership and Partnership Final Accounts — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyIntroduction to Partnership and Partnership Final Accounts1 Mark
Question
Why is the Balance Sheet prepared?
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Answer

The Balance Sheet is prepared to know the financial position of the business in the form of its assets and liabilities on a particular date.

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