Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 45)
Which financial statement is used to evaluate the financial position of a company at a specific point in time?
Income Statement
Statement of Cash Flows
Balance Sheet
Statement of Retained Earnings
Explanation
The balance sheet provides a snapshot of a company's assets, liabilities, and equity at a specific point in time.
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