Which Financial Statement Includes a Specific Date in Its Heading

question 105

Multiple Choice

Which financial statement includes a specific date in its heading?

• A) Statement of retained earnings
• B) Statement of cash flows
• C) Income statement
• D) Balance sheet

---

Definitions:

Balance Sheet Accounts

Accounts found on the balance sheet that include assets, liabilities, and equity, detailing the financial position of a company at a specific point in time.

Permanent Accounts

Accounts that are not closed at the end of the accounting period, such as assets, liabilities, and equity accounts.

Expense Account

An account that tracks the costs incurred by a business during its operations.

Accounts Payable

Liabilities owed by a company to its suppliers or creditors for goods and services received that have not yet been paid for.