Which of the following is (are) correct about a company's balance sheet?
A) It displays sources and uses of cash for the period.
B) It is an expansion of the basic accounting equation: Assets = Liabilities + Owners' Equity.
C) It is sometimes referred to as a statement of financial position.
D) It is unnecessary if both an income statement and statement of cash flows are available.
Correct Answer:
Verified
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