Question

The purpose of a balance sheet is to report the ______.
a. change in cash for period
b. change in retained earnings for the period
c. financial position of a business at a particular point in time
d. results of the business's operation over a period of time

Answer 1

Answer:

c. financial position of a business at a particular point in time

Explanation:

A balance sheet is a financial statement that shows the financial position of a business at a particular point in time. It lists the assets, liabilities, and owner's equity.

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