Features of Balance Sheet :
(a) A Balance Sheet is always prepared on a particular date.
(b) It is prepared after the preparation on Income and Expenditure account.
(c) It is not an account but a statement.
(d) It shows the financial positions on a specified date.(e) Assets are shown on the right hand side and liabilities are shown on the left hand side.
(f) It contains personal and real accounts and the net result of nominal account.
(any two)