Which of the following characteristics apply to a balance sheet?

Which of the following characteristics apply to a balance sheet?

A. Another name for it is the statement of financial position.
B. It indicates a company’s losses.
C. It shows how much was paid out in dividends.
D. It is an aggregate of activity over a period of time.

Solutions

Expert Solution

Answer

OPTION A - Another name for it is the statement of financial position.

Explanation:

Balance Sheet refers to a statement that shows assets, liabilities and capital at the end of the period.

Income statement shows company's loss and not the balance sheet.

Income statement shows how much was paid out in dividends and not the Balance sheet.

It shows the financial position at the end of the period and not over the period.

ekkarill92 answered 2 years ago

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