Asked by Aaron Ehsanipour on May 30, 2024
Verified
Which of the following financial statements shows a company's financial position on a particular date?
A) Statement of changes in retained earnings
B) Income statement
C) Statement of cash flows
D) Balance sheet
Financial Statements
Records that outline the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.
Financial Position
An overview of a company's financial situation, encompassing its assets, liabilities, and equity at a specific point in time.
Income Statement
A financial statement that shows a company's revenues, expenses, and profits over a specific period, indicating the financial performance.
- Acquire knowledge on the aim and substance of principal financial documents: profit and loss statement, statement of financial position, statement of cash flows, and equity statement.
Verified Answer
Learning Objectives
- Acquire knowledge on the aim and substance of principal financial documents: profit and loss statement, statement of financial position, statement of cash flows, and equity statement.
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