The financial statement that reports the assets, liabilities, and owner's equity at a specific date is the:
A) income statement.
B) statement of owner's equity.
C) balance sheet.
D) cash flow statement.

Question

Quizplus · Accepted Answer

The balance sheet is the financial statement that reports a company's assets, liabilities, and owner's equity at a specific point in time.

The Financial Statement That Reports the Assets, Liabilities, and Owner's