The ________ does not represent continuing operations in any way,but is simply a snapshot of the total worth of a firm at a given point in time.

Question

Quizplus · Accepted Answer

The balance sheet is a statement that reports a company's assets, liabilities, and equity at a specific point in time. It does not provide information on continuing operations, but only shows the snapshot of a firm's total worth. The income statement, sources and uses of funds statement, and statement of cash flows all report on a company's ongoing operations over a period of time.

The ________ Does Not Represent Continuing Operations in Any Way,but