Which of the following refers to the financial statement detailing a firm's assets,liabilities,and owners' equity?
A) Income statement
B) Statement of cash flow
C) Balance sheet
D) Expense report
E) Annual budget

Question

Quizplus · Accepted Answer

A balance sheet is a financial statement that reports a company's assets, liabilities, and equity at a specific point in time. It provides a snapshot of what a company owns (assets), what it owes (liabilities), and the amount invested by shareholders (equity) at a particular date.

Which of the Following Refers to the Financial Statement Detailing