The correct heading on a statement of financial position prepared for 30 June 2019 is:
A) 30th June 2019
B) as at 30 June 2019
C) for the year ended 30 June 2019
D) for the period ended 30 June 2019

Question

Quizplus · Accepted Answer

The correct heading for a statement of financial position is "as at" since it reflects the financial position of the entity at a specific date, in this case, 30 June 2019. Options A, C, and D are incorrect as they suggest a time frame of the entire year or period, whereas a statement of financial position only reflects the financial position at a specific point in time.

The Correct Heading on a Statement of Financial Position Prepared