An entity's ______________________ is represented by its control over economic resources, financial structure, capacity for adaptation and solvency.
A) financial performance
B) financial position
C) equity
D) accounting equation

Question

Quizplus · Accepted Answer

A company's financial position is directly related to its control over economic resources, financial structure, capacity for adaptation and solvency. Financial performance refers to how well the company is performing financially, equity refers to ownership in the company, and the accounting equation is Assets = Liabilities + Equity.

An Entity's ______________________ Is Represented by Its Control Over Economic