Another name for the balance sheet is:
A) profit and loss statement.
B) statement of financial position.
C) statement of financial performance.
D) statement of change in owners' equity.

Question

Quizplus · Accepted Answer

The balance sheet is also known as the statement of financial position because it shows the company's financial position at a specific time by presenting its assets, liabilities, and equity. The other answer choices refer to different financial statements that provide different types of information.

Another Name for the Balance Sheet Is