__________ provides a snapshot of the financial condition of the firm at a particular time.

A) The balance sheet
B) The income statement
C) The statement of cash flows
D) All of the options are correct.
E) None of the options are correct.

Balance Sheet

An accounting statement of a firm’s financial position at a specified time.

Financial Condition

Financial condition is a broad term that describes the current fiscal health and stability of an individual or entity, considering factors like assets, liabilities, income, and expenses.

Snapshot

A visual or data representation capturing the state or conditions of a system at a particular moment in time.