The _____ is an accumulation of all financial transactions conducted by an organization since its founding.
A)statement of retained earnings
B)balance sheet
C)profit and loss statement
D)statement of cash flow
E)income tax form

Question

Quizplus · Accepted Answer

The balance sheet is a financial statement that summarizes an organization's financial balances, including assets, liabilities, and equity, at a specific point in time. It reflects the cumulative effect of all financial transactions since the organization's inception.

The _____ Is an Accumulation of All Financial Transactions Conducted