Which of the following financial statements lists the entity's assets, liabilities, and stockholders' equity as of a specific date?
A) Balance sheet
B) Statement of retained earnings
C) Income statement
D) Statement of cash flows

Question

Quizplus · Accepted Answer

A balance sheet lists an entity's assets, liabilities, and stockholders' equity as of a specific date. The statement of retained earnings shows changes in the retained earnings account over a period of time. The income statement shows the entity's revenues and expenses over a period of time. The statement of cash flows shows how the entity generated and used cash during a period of time.

Which of the Following Financial Statements Lists the Entity's Assets