The financial statement(s)that cannot be broken down by departments would be:

Question

Quizplus · Accepted Answer

The balance sheet is a snapshot of an organization's financial position at a specific point in time and consists of assets, liabilities, and equity. It provides a summary of the organization's financial position and cannot be broken down by departments as it does not track revenue and expenses. The income statement and statement of owner's equity, on the other hand, track revenue and expenses over a certain period and can be broken down by departments.

The Financial Statement(s)that Cannot Be Broken Down by Departments Would