Which financial statement is concerned with the enterprise at a point in time?
A)Statement of cash flows
B)Income statement
C)Retained earnings statement
D)Balance sheet

Question

Quizplus · Accepted Answer

The balance sheet is concerned with the enterprise at a point in time as it shows the assets, liabilities, and equity of a company at a specific date. The other three statements (statement of cash flows, income statement, and retained earnings statement) cover a period of time, such as a month or a year.

Which Financial Statement Is Concerned with the Enterprise at a Point