Balance Sheet

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Guest

Guest (Querist)

22 April 2011 What is a balance sheet? Which is a query in mind from so many days (Infosys interview question).
Basic question which is a fundamental one but created a query.

Every one say its just a format having two sides - one is liabilities and another is - assets.
But seeking for the exact meaning of balance sheet...
Thanks in advance.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 April 2011 Balance sheet is the assets and liabilites position of the business on a particular day

It reveals your business position,owners fund, debt fund, Investment, fixed assets and other asset balance on a particular day

Guest

Guest (Querist)

22 April 2011 Just yesterday i read the lines of balance sheet, can we say like this - for every rupee of asset there will be a liability or reserve or for every rupee of liability there will be an investment or asset. Is it right sir?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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24 April 2011 yes. your lines also correct

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