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Balance Sheet

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Guest

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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.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
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
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Guest

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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?
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CMA Ramesh Krishnan

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