📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Which financial statement shows the company’s

    financial position at a specific point in time?
    A Income Statement Correct Answer Incorrect Answer
    B Balance Sheet Correct Answer Incorrect Answer
    C Statement of Cash Flows Correct Answer Incorrect Answer
    D Statement of Retained Earnings Correct Answer Incorrect Answer

    Solution

    The balance sheet shows the company’s assets, liabilities, and owners' equity at a specific point in time. It provides a snapshot of the company's financial position, reflecting what the company owns and owes, as well as the owner's equity at that moment.

    Practice Next
    More ESIC Part B Questions

    Relevant for Exams:

    ask-question