The balance sheet is frequently referred to as
A) an operating statement.
B) the statement of financial position.
C) the statement of cash flows.
D) the statement of retained earnings.

Question

Quizplus · Accepted Answer

The balance sheet is also commonly known as the statement of financial position because it provides information about an organization's financial position at a given time. The other options listed are different financial statements with different purposes and information provided.

The Balance Sheet Is Frequently Referred to as