Which of the following financial statements provides a picture of the enterprise at a particular point in time?

Question

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The balance sheet provides a snapshot of the enterprise's assets, liabilities, and equity at a particular point in time. It shows what the entity owns, what it owes, and what is left over for the owners. The income statement, statement of cash flows, and statement of retained earnings provide information about the performance of the entity over a period of time, rather than a specific point in time.

Which of the Following Financial Statements Provides a Picture of the Enterprise