Which Financial Statement Is Concerned with an Entity at a Point

question 18

Multiple Choice

Which financial statement is concerned with an entity at a point in time?

• A) Statement of financial position.
• B) Statement of cash flows.
• C) Profit and loss statement.
• D) Comprehensive income statement.

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Definitions:

Utility

The total satisfaction or benefit that a consumer receives from consuming a good or service.

American Express

A multinational financial services corporation known for its credit card, charge card, and traveler's check businesses.

Utility

The total satisfaction or benefit received from consuming a good or service.

Place Utility

The value added to products by having them available at the location where they are needed or desired by consumers.