Which Statement About the Balance Sheet Is True

question 74

Multiple Choice

Which statement about the balance sheet is true?

• A)The balance sheet for a given year is designed to give us an idea of what happened to the firm during that year.
• B)The balance sheet for a given year tells us how much money the company earned during that year.
• C)For most companies, the market value of the stock equals the book value of the stock as reported on the balance sheet.
• D)A balance sheet lists the assets that will be converted to cash first and the longest-lived ones last.

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