The balance sheet is sometimes also called the:
A) statement of operations
B) statement of cash position
C) statement of financial position
D) statement of income and expense

Question

Quizplus · Accepted Answer

The balance sheet is also called the statement of financial position because it provides information about the financial position of an entity by listing the assets, liabilities, and equity at a specific point in time. Statements A, B, and D refer to other financial statements that provide different types of information.

The Balance Sheet Is Sometimes Also Called The