Which of the following statements is true of the balance sheet?
A) It represents the result of transactions completed over a specified accounting period.
B) It represents all transactions conducted by an organization since its founding.
C) It represents an organization's profitability over a period of time.
D) It represents the overall revenues of an organization.
E) It represents how the company's cash changed during an accounting period.
Correct Answer:
Verified
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A)Profit
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