Which of these is a statement of what a business owns,what it owes to others,and how much value the owners have invested in it?
A)Income statement
B)Balance sheet
C)Cash flow statement
D)Statement of retained earnings

Question

Quizplus · Accepted Answer

A balance sheet lists a business's assets (what it owns), liabilities (what it owes to others), and equity (how much value the owners have invested in it). The other options, income statement, cash flow statement, and statement of retained earnings, all provide different information about a business's financial performance but do not include all three of these elements.

Which of These Is a Statement of What a Business