Features of a Balance Sheet are as follows :
(i) A Balance Sheet is always prepared on a particular date.
(ii) It is not an account but a statement.
(iii) It shows the financial position of a firm on a specified date.
(iv) Assets are shown on the right hand side and liabilities are shown on the left hand side.
(v) It contains personal and real accounts and the net result of nominal account.
(any two)