The______ is an accounting statement that reports the financial condition of a firm at a specific point in time.
A)balance sheet
B)income statement
C)trial balance
D)cash flow statement

Question

Quizplus · Accepted Answer

A balance sheet reports the company's assets, liabilities, and equity at a specific point in time. The other options - income statement, trial balance, and cash flow statement - provide information on a company's performance over a period of time.

The______ Is an Accounting Statement That Reports the Financial Condition