The financial statement that represents the accounting equation is the:
A)Income statement.
B)Statement of cash flows.
C)Balance sheet.

Question

Quizplus · Accepted Answer

The balance sheet represents the accounting equation (Assets = Liabilities + Equity) and provides information on a company's financial position at a specific point in time. The income statement and statement of cash flows do not directly represent the accounting equation.

The Financial Statement That Represents the Accounting Equation Is The