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how many types of Balance sheets?
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Answer Posted / 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.
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