Question

A balance sheet lists: Multiple Choice The types and amounts of the revenues and expenses of a business. Only the information about what happened to equity during a time period. The types and amounts of assets, liabilities, and equity of a business as of a specific date. The inflows and outflows of cash during the period. The assets and liabilities of a company but not the stockholders’equity.

Answer 1

Answer:

The types and amounts of assets, liabilities, and equity of a business as of a specific date.

Explanation:

The balance sheet shows the assets (resources held by an entity as a result of past events for which future economic benefits will flow to the entity), the liability (present obligations of the entity as a result of past events for which future economic benefits would flow out of the organization) and the owners' equity ( shares, retained earnings etc), all at a given date.

The balance sheet is what shows the accounting equation (Assets = Equity + Liabilities).

Hence A balance sheet lists he types and amounts of assets, liabilities, and equity of a business as of a specific date.