All events affecting the current value of a company are reported on the statement of financial position.

Question

Quizplus · Accepted Answer

The statement of financial position (also known as the balance sheet) shows the financial position of a company at a specific point in time, including assets, liabilities, and equity. It does not necessarily report all events that affect the current value of a company, such as changes in market trends, economic conditions, or industry developments. Other financial statements, such as the income statement and cash flow statement, may provide more insight into the factors impacting a company's value over time.

All Events Affecting the Current Value of a Company Are