A statement that reports the financial position (assets, liabilities, and stockh

Question

A statement that reports the financial position (assets, liabilities, and stockholders' equity) of an accounting entity at a point in time is called a(an): (Points : 5)        Income statement
       Statement of retained earnings
       Balance sheet
       Statement of cash flows
       Report of management A statement that reports the financial position (assets, liabilities, and stockholders' equity) of an accounting entity at a point in time is called a(an): (Points : 5)        Income statement
       Statement of retained earnings
       Balance sheet
       Statement of cash flows
       Report of management

Explanation / Answer

Statement that reports the financial position (Assets, liabilities, and stockholder's equity is called Balance sheet.

Therefore answer to above question is Balance sheet.

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