The Balance Sheet Is Also Called the Statement of Financial

question 52

True/False

The balance sheet is also called the statement of financial position because it shows the financial position of the business on a particular date.

---

Definitions:

Phalanges

The bones of the fingers and toes in human anatomy, crucial for grip, manipulation of objects, and locomotion.

Metacarpals

The five long bones found in the hand that connect the wrist to the fingers, playing a key role in hand movements.

Tarsals

A group of seven bones in the foot located between the lower leg bones and the metatarsals, contributing to foot structure and movement.

Fibula

A smaller of the two bones in the lower leg, situated on the lateral side of the tibia.