Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 41 - No. 48)
Which financial statement provides the amounts of assets, liabilities, and equity at a point in time?
Income Statement
Statement of Cash Flows
Statement of Retained Earnings
Balance Sheet
Explanation
The Balance Sheet (also known as the Statement of Financial Position) provides a snapshot of the assets, liabilities, and equity at a specific moment.
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