Which of the following financial statements shows a firm's financial position at a particular date?
A) balance sheet
B) income statement
C) statement of cash flows
D) statement of changes in retained earnings

Question

Quizplus · Accepted Answer

A balance sheet shows a firm's financial position at a particular point in time by listing its assets, liabilities, and equity. The other statements (income statement, statement of cash flows, and statement of changes in retained earnings) show financial performance over a period of time.

Which of the Following Financial Statements Shows a Firm's Financial