A balance sheet shows:
A) the financial position at the end of the period.
B) the change in financial position over a particular period.
C) details of how much profit was earned in the period.
D) the cash movements that took place over a particular period.

Question

Quizplus · Accepted Answer

A balance sheet shows the financial position of a company at a specific point in time, typically at the end of an accounting period. It shows the company's assets, liabilities, and equity. It does not show the change in financial position, details of profit, or cash movements.

A Balance Sheet Shows