You can evaluate the economic resources,debt,and overall financial position of a company in which of the following financial statements?
A) Income statement
B) Balance sheet
C) Statement of cash flows
D) Statement of owner's equity

Question

Quizplus · Accepted Answer

The balance sheet lists a company's assets, liabilities, and equity, which can be used to evaluate the company's economic resources and overall financial position. Debt is included as a liability on the balance sheet. The income statement only shows a company's revenue and expenses over a period of time, while the statement of cash flows shows the flow of cash in and out of the company, but does not provide a complete picture of a company's overall financial position. The statement of owner's equity shows changes in the owner's equity over time, but does not provide information on a company's economic resources or debt.

You Can Evaluate the Economic Resources,debt,and Overall Financial Position of a Company