A balance sheet lists:
A)The types and amounts of the revenues and expenses of a business.
B)Only the information about what happened to equity during a time period.
C)The types and amounts of assets,liabilities,and equity of a business as of a specific date.
D)The inflows and outflows of cash during the period.
E)The assets and liabilities of a company but not the owner's equity.

Question

Quizplus · Accepted Answer

A balance sheet lists the types and amounts of assets, liabilities, and equity of a business as of a specific date. It does not provide information about revenues and expenses, cash inflows and outflows, or only equity changes over a period of time.

A Balance Sheet Lists