Which of the Following Describes the Primary Objective of the Balance

question 96

Multiple Choice

Which of the following describes the primary objective of the balance sheet?

• A)To measure the net income of a business up to a particular point in time.
• B)To report the difference between cash inflows and cash outflows for the period.
• C)To report the financial position of the reporting entity at a particular point in time.
• D)To report the market value of assets,liabilities,and stockholders' equity at a particular point in time.

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Definitions:

Dpi

Dpi stands for dots per inch, a measurement of print resolution that indicates how many dots of ink or toner a printer or copier can produce within a linear inch, affecting image quality.

Ports

Virtual access points for networking that allows different applications on the same computer to share information and communicate internally or externally.

Flash Memory

A type of non-volatile storage that can be electronically erased and reprogrammed, used in USB drives, memory cards, and SSDs.

Flash Drive

A portable storage device using flash memory, commonly used for the transfer and storage of digital files.