Q. Which of the following statements is true? (Solved)
1. The balance of the goods account shows the value of stock in hand;
2. Balancing of all accounts must be done at the end of each day;
3. Assets which are to remain in business for continuous use and not meant for conversion into cash are fixed assets ;
4. Balance Sheet discloses income position of the business
- c. Assets which are to remain in business for continuous use and not meant for conversion into cash are fixed assets ;