The financial statement that represents an accumulation of all of a company's transactions since it began is the
A) income statement.
B) balance sheet.
C) profit and loss statement.
D) statement of cash flow.
E) income tax form.

Question

Quizplus · Accepted Answer

Unlike the income statement,the balance sheet does not represent the result of transactions completed over a specified accounting period,but it is an accumulation of all the financial transactions conducted by an organization since its founding.

The Financial Statement That Represents an Accumulation of All of a Company's