The _______________ of a company is the resources owned by the organization at a point in time, offset by the claims against those resources and owner's equity.
A) net income
B) financial statement
C) net loss
D) financial position

Question

Quizplus · Accepted Answer

The financial position of a company represents its overall financial health by showing the resources it owns (assets) as well as the claims against those resources (liabilities) and the owner's investment (equity). Net income and net loss refer to the profitability of a company over a period of time, while a financial statement is a document that summarizes a company's financial activities.

The _______________ of a Company Is the Resources Owned by the Organization