Which of the Following Financial Statements Lists the Entity's Assets,liabilities,and

question 94

Multiple Choice

Which of the following financial statements lists the entity's assets,liabilities,and stockholders' equity as of a specific date?

• A)Balance sheet
• B)Statement of owner's equity
• C)Income statement
• D)Statement of cash flows

---

Definitions:

Cash Flow

Cash Flow is the net amount of cash and cash-equivalents being transferred into and out of a business, affecting its liquidity.

Assets

Resources owned by a company, expected to deliver future economic benefits.

Capital Gains

Profit realized from the sale of assets like stocks, bonds, or real estate when the selling price exceeds the purchasing price.

Marginal Tax Rates

The rate at which the last dollar of income is taxed, indicating the rate of tax applied to your next dollar of income.