A statement of financial position shows
A)revenues, liabilities, and shareholders' equity.
B)expenses, dividends, and shareholders' equity.
C)revenues, expenses, and dividends.
D)assets, liabilities, and shareholders' equity.

Question

Quizplus · Accepted Answer

A statement of financial position (also known as balance sheet) shows the assets (what the company owns), liabilities (what the company owes), and shareholders' equity (the difference between the assets and liabilities that belong to the owners/shareholders). Revenues, expenses, dividends are shown on the statement of comprehensive income (also known as income statement).

A Statement of Financial Position Shows