A financial statement that reports accounting data at a specific date is the:
A) balance sheet.
B) retained earnings statement.
C) income statement.
D) statement of cash flows.

Question

Quizplus · Accepted Answer

A balance sheet reports accounting data at a specific date, showing a company's assets, liabilities, and equity. The retained earnings statement reports changes in retained earnings over a period of time, the income statement reports a company's revenues and expenses over a period of time, and the statement of cash flows reports a company's cash inflows and outflows over a period of time.

A Financial Statement That Reports Accounting Data at a Specific