Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 41 - No. 50)
Which financial statement provides a snapshot of a company's assets, liabilities, and equity at a specific point in time?
Income statement
Statement of cash flows
Balance sheet
Statement of retained earnings
Explanation
The balance sheet presents a company's assets, liabilities, and equity at a specific point in time, according to the accounting equation.
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