The financial document that presents a "snapshot" of an organization's financial position at a given moment is called a(n):
A)income statement.
B)balance sheet.
C)annual report.
D)budget.
E)statement of cash flow.

Question

Quizplus · Accepted Answer

The balance sheet is the financial document that provides a "snapshot" of an organization's financial position at a specific point in time, showing assets, liabilities, and equity.

The Financial Document That Presents a "Snapshot" of an Organization's