Question

In: Accounting

Which of the following financial statements is prepared as at a specific date? Income statement Balance...

Which of the following financial statements is prepared as at a specific date?

Income statement

Balance sheet

Cash flow statement

Statement of owner's equity

Solutions

Expert Solution

Correct answer--------------Balance sheet

.

Balance sheet shows the balances of accounts on a particular date and that date is specified on the balance sheet.

Income statement is prepared for a period of time such as 1 month, 3 months, six months or a year.

Statement of cash flow is prepared using Balance sheet , income statement and owner's equity statement. it is also prepared for a period.

ekkarill92 answered 1 year ago
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