Which Financial Statement Reports the Financial Position of a Business

question 70

Multiple Choice

Which financial statement reports the financial position of a business?

• A)Income statement.
• B)Statement of financial position.
• C)Statement of cash flows.
• D)Footnotes to the financial statements.

---

Definitions:

Continued Rehearsal

The repetitive practice or review of information or skills to reinforce learning and facilitate memory retention.

Master The Material

The process of acquiring in-depth knowledge or skill in a particular area of study or interest.

Method of Loci

This is a mnemonic device that involves visualizing spatial environments to enhance the recall of information.

Mnemonic Device

A tool that helps remember facts or a large amount of information, by associating this information with a memorable phrase, pattern, or acronym.