The balance sheet contains information about:
A) liabilities, equity, and expenses
B) assets, liabilities, and equity
C) revenues, expenses, and equity
D) assets, revenues, and liabilities

Question

Quizplus · Accepted Answer

The balance sheet represents a snapshot of a company's financial position at a specific point in time, and it includes information about the company's assets, liabilities, and equity. Essentially, it shows what the company owns (assets) and what it owes (liabilities), as well as the residual value belonging to shareholders (equity).

The Balance Sheet Contains Information About