A balance sheet lists:
A)The types and amounts of the revenues and expenses of a business.
B)Only the information about what happened to retained earnings during a time period.
C)The types and amounts of assets,liabilities and equity of a business as of a specific date.
D)The cash inflows and outflows during the period.
E)The assets and liabilities of a company,but not the equity.

Question

Quizplus · Accepted Answer

A balance sheet lists the types and amounts of assets, liabilities, and equity of a business as of a specific date. It provides a snapshot of a company's financial position at a given time. It does not list revenues and expenses or cash inflows and outflows, which are typically found on an income statement or cash flow statement, respectively.

A Balance Sheet Lists