A balance sheet provides a statement of one's financial:
A) position.
B) performance.
C) goals.
D) ratios.
E) history.

Question

Quizplus · Accepted Answer

A balance sheet provides a snapshot of an individual's or company's financial position at a given point in time, including assets, liabilities, and equity. It does not provide information on performance or goals, which would typically be found in income statements or business plans, nor does it provide ratios or historical data (although it can be compared over time to track changes in financial position).

A Balance Sheet Provides a Statement of One's Financial