Which financial planning document should you use to measure your current financial condition?
A)Budget
B)Cash budget
C)Balance sheet
D)Income statement
E)Statement of financial ratios

Question

Quizplus · Accepted Answer

A balance sheet is a financial statement that presents the current financial condition of an individual or organization by listing its assets, liabilities, and equity at a given point in time. It provides a snapshot of the individual's financial situation, including what they own, what they owe, and their net worth. A budget and cash budget are helpful for planning and managing cash flow, while an income statement and statement of financial ratios provide information on income and expenses over a period of time. However, to measure the current financial condition, the balance sheet is the best choice.

Which Financial Planning Document Should You Use to Measure Your