Another name for the balance sheet is:
A) statement of change in owners' equity.
B) statement of financial position.
C) statement of financial performance.
D) profit and loss statement.

Question

Quizplus · Accepted Answer

The balance sheet is also known as the statement of financial position, as it presents a summary of a company's financial position at a specific point in time. The other options (statement of change in owners' equity, statement of financial performance, and profit and loss statement) are all different financial statements that provide information on a company's financial performance and changes in ownership equity, but they are not alternative names for the balance sheet.

Another Name for the Balance Sheet Is