Arthur, the managing director of Wall Blues Consultancy, wants to know his company's financial position two years ago. Which of the following tools can provide him this information?
A) Cash flow statements
B) Income statements
C) Balance sheets
D) Financial ratios

Question

Quizplus · Accepted Answer

The balance sheet provides a snapshot of a company's financial position at a specific point in time, including assets, liabilities, and equity. It will show the company's financial position from two years ago. The other three options provide information on a company's financial performance over a period of time, but not its financial position at a specific point in time.

Arthur, the Managing Director of Wall Blues Consultancy, Wants to Know