The following information is from Acme's annual report for the years ended Dec. 31:

-Refer to the Acme annual report above.This information is from Acme's ________.
A)income statement
B)balance sheet
C)statement of cash flows
D)statement of changes in shareholders' equity

Question

The following information is from Acme's annual report for the years ended Dec. 31:

-Refer to the Acme annual report above.This information is from Acme's ________.
A)income statement 
B)balance sheet 
C)statement of cash flows 
D)statement of changes in shareholders' equity

Quizplus · Accepted Answer

The information provided in the annual report is typically found in the balance sheet, which presents a company's financial position at a given point in time, including its assets, liabilities, and shareholders' equity. The income statement reports a company's revenues and expenses over a certain period, the statement of cash flows shows the company's cash inflows and outflows during the period, and the statement of changes in shareholders' equity shows changes in the ownership interest of a company's shareholders. None of these statements would typically provide the same level of detail as a balance sheet in terms of a company's financial position.

The Following Information Is from Acme's Annual Report for the Years