The ________________ shows the financial position of a company.

Question

Quizplus · Accepted Answer

The balance sheet is a financial statement that shows the assets, liabilities, and equity of a company at a particular point in time, giving an overall snapshot of the financial position of the company. The income statement shows the company's revenues and expenses over a period of time, while the statement of owner's equity shows the changes in the owner's equity of a company over a period of time. Therefore, the balance sheet is the best choice for showing the financial position of a company.

The ________________ Shows the Financial Position of a Company