Asked by Ashton Krause on Jul 15, 2024
Verified
Reports as of a specific date
A)Income statement
B)Balance sheet
C)Statement of stockholder's equity
D)Statement of cash flows
Reports
Documents containing organized information or data analysis used in decision-making, reflecting performance, financial health, and other critical metrics of an entity.
Balance Sheet
A financial statement that reports a company's assets, liabilities, and stockholders' equity at a specific point in time.
- Distinguish between different financial statements and their attributes.
Verified Answer
BV
Bui Van Cao (FU HN)Jul 18, 2024
Final Answer :
b
Explanation :
The characteristic of reporting as of a specific date is best suited for the balance sheet, as it lists a company's assets, liabilities, and equity at a specific point in time. The income statement and statement of cash flows cover a period of time, and the statement of owner's equity shows changes in equity over time.
Learning Objectives
- Distinguish between different financial statements and their attributes.
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