The balance sheet is also called the statement of
A) stockholders' equity.
B) resources and debts.
C) profitability.
D) owners' capital.
E) financial position.

Question

Quizplus · Accepted Answer

The balance sheet is also known as the statement of financial position because it provides a snapshot of what a company owns (assets) and owes (liabilities), as well as the amount invested by shareholders (equity) at a specific point in time.

The Balance Sheet Is Also Called the Statement of