Which of the Following Statements Best Describes the Balance Sheet

Which of the following statements best describes the balance sheet?

A) The balance sheet for a given year is designed to give us an idea of what happened to the firm during that year.
B) The balance sheet for a given year tells us how much money the company earned during that year.
C) For most companies, the market value of the stock equals the book value of the stock as reported on the balance sheet.
D) A balance sheet lists the assets that will be converted to cash first, and then goes on down to list the longest-lived ones last.