The __________ is an accounting statement that reports the financial condition of a firm at a specific point in time.

Question

Quizplus · Accepted Answer

The balance sheet provides information on a company's assets, liabilities, and equity at a specific point in time. The income statement reports a company's financial performance over a period of time, the cash flow statement reports a company's cash inflows and outflows over a period of time, and the trial balance is simply a list of all the accounts in the general ledger with their debit or credit balances.

The __________ Is an Accounting Statement That Reports the Financial