Question

The statement that provides the financial position of a company as of a specific date is...

The statement that provides the financial position of a company as of a specific date is the

a.balance sheet.

b.income statement.

c.statement of owner's equity.

d.statement of cash flows.

Business   Accounting   
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Answer #1

The correct answer is option A. Balance sheet

Balance sheet shows the financial position of company as of specific date.

Income statement shows excess of income over expenditure on specific date. Hence it can not be correct answer

Statement of owners equity shows changes in the position of shareholders account or change in equity part of balance sheet. Hence it can not be correct answer.

Statement of cash flow shows changes in cash during the year from operating activity , investing activity and financial activity. Hence it can not be correct answer.

So the correct answer is balance sheet which is option A .

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