Which of the following financial statements reports that total assets equals total liabilities plus total owner's equity?
A) Statement of owner's equity
B) Statement of cash flows
C) Income statement
D) Balance sheet

Question

Quizplus · Accepted Answer

The balance sheet reports the financial position of a company at a specific point in time and shows that total assets must equal the sum of total liabilities and total owner's equity.

Which of the Following Financial Statements Reports That Total Assets