Use this financial statement to answer the following question(s):

-The financial statement above shows ________.
A)the company's financial position at a single point in time
B)the changes that took place in the company's cash account during the period
C)the changes that took place in shareholders' equity during the period
D)expenses matched with revenues earned for a period of time

Question

Use this financial statement to answer the following question(s):

-The financial statement above shows ________.
A)the company's financial position at a single point in time 
B)the changes that took place in the company's cash account during the period 
C)the changes that took place in shareholders' equity during the period 
D)expenses matched with revenues earned for a period of time

Quizplus · Accepted Answer

The financial statement shown is a balance sheet, which provides a snapshot of the company's financial position at a single point in time. It lists the company's assets, liabilities, and equity as of a specific date.

Use This Financial Statement to Answer the Following Question(s)