Another name for the balance sheet is the A. statement of financial position. B. statement of profit and loss. C. statement of earnings. D. statement of operations.
The balance sheets is also named as the statement of the financial position of firm and is reflected by the balance of the company to any point of time as it reveals the companies liabilities ad the assets and the owners equity and together with the income statement and the cash flows is the cornerstone for the companies financial statements.
