Discussion
______________ is the financial statement that is prepared to show the financial position of the organisation on a specific date
Answer: D
The Balance Sheet is the statement prepared to show the financial position of an organisation on a specific date, listing its assets, liabilities and capital at that date. The trading account and the profit and loss account show results for a period, that is gross profit and net profit or loss, not a position at a date. The profit and loss appropriation account only shows how the profit is divided, for example into reserves and dividends. So only the balance sheet answers the question.
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