The financial statements that report(s) the financial position of a business over a period of time is the balance sheet.
The financial statement known as a balance sheet is created at the conclusion of each accounting period. By identifying all the assets and obligations, it calculates the financial situation at a specific point in time. Equity is the difference between total assets and total liabilities.
A company's balance sheet, which is also known as the statement of financial status, offers details on the company's book value. The assets, liabilities, and shareholders' equity of the corporation as of a particular date are summarized in the balance sheet's three categories.
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which of the following financial statements report(s) the financial position of a business over a period of time? (check all that apply.)
Balance sheet
Profit and loss account
Asset
Debt
