Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 37 - No. 50)
Which financial statement provides a summary of a company's assets, liabilities, and equity?
Income Statement
Statement of Cash Flows
Balance Sheet
Statement of Retained Earnings
Explanation
The Balance Sheet (or Statement of Financial Position) provides a snapshot of a company's assets, liabilities, and equity at a specific point in time.
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