Which of the following shows a firm’s assets and liabilities? A) the
QUESTION
Which of the following shows a firm’s assets and liabilities?
A) the balance sheet
B) the income statement
C) the cash flow statement
D) the profit-and-loss statement
E) the operating expenses report
ANSWER
Answer: A
Explanation: A) A balance sheet represents a firm’s financial condition by showing the balance of the firm’s assets and liabilities.
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