A financial statement that shows a firm's assets,liabilities,and owner's equity is called a/an
A) Income statement
B) Common-size financial statement
C) Balance sheet
D) Statement of cash flows

Question

Quizplus · Accepted Answer

A balance sheet is a financial statement that shows a firm's assets, liabilities, and owner's equity at a specific point in time.

A Financial Statement That Shows a Firm's Assets,liabilities,and Owner's Equity