Which of the Following Describes the Primary Objective of the Balance

question 96

Multiple Choice

Which of the following describes the primary objective of the balance sheet?

• A)To measure the net income of a business up to a particular point in time.
• B)To report the difference between cash inflows and cash outflows for the period.
• C)To report the financial position of the reporting entity at a particular point in time.
• D)To report the market value of assets,liabilities,and stockholders' equity at a particular point in time.