A balance sheet reports the value of a firm's assets,liabilities,and equity:
A) over an annual period.
B) over any period of time.
C) at any point in time.
D) at the end of the year.

Question

Quizplus · Accepted Answer

A balance sheet provides a snapshot of the firm's financial position at a particular point in time, not just at the end of the year or over an annual period. It can be prepared at any time, such as at the end of a month or quarter, and reflects the values of assets, liabilities, and equity at that particular point.

A Balance Sheet Reports the Value of a Firm's Assets,liabilities,and