The financial statement that represents activity over the entire life of the company is the:
A)Income statement.
B)Balance sheet.
C)Statement of financial accounting.

Question

Quizplus · Accepted Answer

The balance sheet represents a snapshot of a company's financial position at a specific point in time, including the entire life of the company up to that point. It lists assets, liabilities, and equity, showing the cumulative results of all business activities since inception.

The Financial Statement That Represents Activity Over the Entire Life