Which financial statement reports an organization's financial position at a single point in time?
A) Balance sheet.
B) Cash flow statement.
C) Trial balance.
D) Income statement.
E) Statement of owner's equity.

Question

Quizplus · Accepted Answer

The balance sheet reports an organization's financial position at a single point in time, typically at the end of a reporting period. It shows the organization's assets, liabilities, and owner's equity.

Which Financial Statement Reports an Organization's Financial Position at a Single