Which of the following financial statements is concerned with the enterprise at a point in time?
A) Statement of retained earnings
B) Income statement
C) Statement of cash flows
D) Balance sheet

Question

Quizplus · Accepted Answer

The balance sheet is a financial statement that presents the financial position of an enterprise at a particular point in time. It shows the assets, liabilities, and equity of the enterprise and helps in understanding the financial health and stability of the enterprise. The other financial statements, such as the income statement, statement of retained earnings, and statement of cash flows, are concerned with the financial performance of the enterprise over a specific period.

Which of the Following Financial Statements Is Concerned with the Enterprise