Which financial statement includes a specific date in its heading?
A) Statement of owner's equity
B) Statement of cash flows
C) Income statement
D) Balance sheet

Question

Quizplus · Accepted Answer

The balance sheet includes a specific date in its heading as it presents the financial condition of an entity as of a specific point in time. The other financial statements (income statement, statement of owner's equity, and statement of cash flows) cover a period of time, rather than a specific date.

Which Financial Statement Includes a Specific Date in Its Heading