The correct answer is Balance SheetBalance Sheet: A balance sheet is a financial statement of a company that represents the values of its assets, liabilities, and Shareholder's Equity at a specific time. It basically represents the financial position of a company. For this very reason, it is also called the Position Statement of the company. Additional Information Profit and Loss Appropriation Account: This account is prepared after the preparation of the profit and loss account and ascertainment of net profit or a net loss. This account is prepared to distribute the net profit of the firm among the partners after making all the adjustments relating to Interest on Capitals, Interest on Drawings, Salary/commission to partner and transfer to reserve etc. This account contains entries relating to the partner's claim only. Profit and Loss Account: This is an account in a company's books to which gains and income are credited and expenses and losses are debited to reflect the net profit or loss for a certain periodTrading Account: A trading account is a statement that is prepared by a business firm to record all the transactions related to the Stock, purchasing of materials, manufacturing expenses, and selling of goods. All the direct expenses like wages, electricity charges, etc are recorded in Trading Account. Its balance denotes gross profit or gross loss.