Which of the following sections form the statement of financial position/balance sheet?
A) Assets,liabilities and profit
B) Assets,liabilities and shareholders' equity
C) Assets and profit
D) Liabilities and profit

Question

Quizplus · Accepted Answer

The statement of financial position, also known as the balance sheet, includes information on a company's assets, liabilities, and shareholders' equity. Options A, C, and D do not include all three of these key sections.

Which of the Following Sections Form the Statement of Financial