The statement of financial position is also known as the:
A)balance sheet.
B)income statement.
C)statement of cash flows.
D)statement of stockholder's equity.

Question

Quizplus · Accepted Answer

The statement of financial position is another name for the balance sheet. The income statement shows a company's revenues and expenses over a period, the statement of cash flows shows the inflows and outflows of cash over a period, and the statement of stockholder's equity shows changes in the equity section of the balance sheet over a period.

The Statement of Financial Position Is Also Known as The