In: Finance
Which of the following is true of a balance sheet, but not of an income and expense statement?
a. It is a monthly record of money coming in and money going out
b. It is a snapshot of a person’s or business’ equity, or net worth, at any given time
c. It has a top line, a bottom line, and shows the difference as discretionary income
d. It includes items like your salary, wages, rent, utilities, groceries