Which of the following financial statements shows a firm's financial position at a particular date?
A)statement of changes in retained earnings
B)income statement
C)statement of cash flows
D)balance sheet

Question

Quizplus · Accepted Answer

The balance sheet reflects a company's financial position at a particular point in time, typically at the end of a reporting period. It shows the company's assets, liabilities, and equity, and provides information about the company's liquidity, solvency, and financial health. The other financial statements (income statement, statement of changes in retained earnings, and statement of cash flows) provide information about a company's financial performance over a period of time, but do not show the company's financial position at a single point in time.

Which of the Following Financial Statements Shows a Firm's Financial