Which of the following are the basic elements of a balance sheet?
A) Income, expenses, and profit or loss.
B) Operations, sales, and growth.
C) Assets, liabilities, and stockholder's equity.
D) Income, deductions, and taxes.
E) Budgets, controls, and corrective actions.

Question

Quizplus · Accepted Answer

The balance sheet shows the financial picture of a company at a given time. This statement itemizes three elements: assets, liabilities, and stockholders' equity.

Which of the Following Are the Basic Elements of a Balance