Measures the resources controlled by a company and the claims on resources at a given point in time.
A) Statement of Financial Position
B) Statement of Income
C) Statement of Cash Flows
D) Statement of Changes in Equity

Question

Quizplus · Accepted Answer

The Statement of Financial Position, also known as the Balance Sheet, measures the resources controlled by a company (assets) and the claims on those resources (liabilities and equity) at a specific point in time.

Measures the Resources Controlled by a Company and the Claims