For any business,both the _______ and ________ are needed to determine a firm's financial position.
A)income statement;balance sheet
B)income statement;cash flow
C)balance sheet;line of credit
D)cash flow;balance sheet

Question

Quizplus · Accepted Answer

The income statement provides information on a company's profitability over a specific period, while the balance sheet provides a snapshot of the company's financial position at a specific point in time. Both are essential for assessing a firm's financial health.

For Any Business,both the _______ and ________ Are Needed to Determine

For Any Business,both the _ and __ Are Needed to Determine