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how many types of Balance sheets?
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Answer / vishakha
There are different ways to classify Balance Sheets:
Based on Format of Preparation:
Horizontal and Vertical
Based on the Usage:
Consolidated or Standalone (For Share Holders of the Group Entity or individual entity)
Based on the Period:
Previous Year Balance Sheet
Current Year Balance Sheet
Management Consultants prepare Projected Balance Sheet for knowing the potential financial health of the corporation.
| Is This Answer Correct ? | 34 Yes | 1 No |
Answer / m.vishwa bharath
Format basis: 1)Horizontal Balance Sheet &
2)Vertical Balance sheet
Usage Basis : 1) Consolidated Balance Sheet &
2) Individual Balance sheet
Period Basis: 1)Previous Year Balance sheet
2)Current Year Balance Sheet &
3)Projected Balance Sheet
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / shanth kumar
Two types
1.Assets or left side and liabilities on right side
2.Assests followed by liabilities
| Is This Answer Correct ? | 0 Yes | 0 No |
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