Which one of the following financial statements reports an entity's financial position at a specific date?

Question

Quizplus · Accepted Answer

The balance sheet shows an entity's financial position, including its assets, liabilities, and equity, at a specific point in time. The other financial statements, including the statement of retained earnings, income statement, and statement of cash flows, report on the entity's financial performance over a period of time.

Which One of the Following Financial Statements Reports an Entity's