The ____ shows the investments made by the firm in the form of assets and the means by which the assets were financed.
A) income statement
B) balance sheet
C) statement of cash flows
D) statement of retained earnings

Question

Quizplus · Accepted Answer

The balance sheet is a financial statement that shows the assets, liabilities, and equity of a company at a specific point in time. This statement indicates the investments made by the firm in the form of assets (such as property, plant, and equipment, inventory, and accounts receivable) and the means by which the assets were financed (such as liabilities and equity). The income statement shows a company's revenue and expenses over a period, the statement of cash flows shows the inflow and outflow of cash, and the statement of retained earnings shows the change in a company's retained earnings over a period.

The ____ Shows the Investments Made by the Firm in the Form