Ask Question
23 October, 04:00

Which of the following financial statements is prepared as of a specific date? Group of answer choices Balance sheet. Income statement. Retained earnings statement. Statement of cash flows.

+3
Answers (1)
  1. 23 October, 07:49
    0
    Balance sheet.

    Explanation:

    Options B, C, D are wrong because income statement, retained earnings statement, and statement of cash flows is prepared for a specific period. For example, an accounting year or a fiscal year. As a company is operating throughout the year, it can generate income, expenses, and dividends.

    On the other hand, assets and liabilities are valued on a specific date. Therefore, option A (balance sheet) is correct.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of the following financial statements is prepared as of a specific date? Group of answer choices Balance sheet. Income statement. ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers