The ______ is also called the Statement of Financial Position.
A) cash flow statement
B) income statement
C) balance sheet
D) statement of retained earnings

Question

Quizplus · Accepted Answer

The balance sheet is commonly referred to as the Statement of Financial Position. It provides a snapshot of a company's assets, liabilities, and equity at a given point in time. The other options listed (A, B, and D) are different financial statements that serve other purposes.

The ______ Is Also Called the Statement of Financial Position