Balance sheets are mainly calculated at the interval of every quarter, every six months or at the interval of a fiscal year, as per the organisation’s demands.So one has to be very professional and maintain proper balance sheet format to make the best out of it. Free Balance Sheet Online Practice Tests 5 Tests found for Balance Sheet : Finance Test on Practical questions on Accountancy and Accounting 20 Questions | 28464 Attempts Finance, Financial Management, B.COM (Bachelors of Commerce), MBA (Finance), Company Secretary, Chartered Financial A balance sheet can review a company’s financial position and it is considered a good gauge of the health of the economy since it shows how much assets are available for payment of liabilities. This point is crucial if you need to buy stock from a startup company and you need to judge whether you can make a profit from it.