A statement of financial position is another name for
A)The balance sheet.
B)The statement of cash flows.
C)The accounting equation.
D)The statement of changes in equity.
E)The income statement.

Question

Quizplus · Accepted Answer

The statement of financial position is another term used to refer to the balance sheet. The balance sheet provides a snapshot of a company's financial position at a particular point in time, showing its assets, liabilities, and equity.

A Statement of Financial Position Is Another Name for