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14 February, 23:12

Which financial planning document should you use to measure your current financial condition?

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  1. 14 February, 23:20
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    Balance Sheet / Statement of Financial position is used to measure the current financial position of the company.

    Explanation:

    Balance Sheet / Statement of Financial position is used to measure the current financial position of the company. It shows the value of assets liabilities and capital invested in the company. It also provides the net financial value of the company after paying all the liabilities. On the other hand the Income statement or Statement of Financial performance shows the performance of the company in a specified period of time.
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