Question

______________ a snapshot of the financial condition of the firm at a particular time.

• A. The balance sheet provides
• B. The income statement provides
• C. The cash flow statement provides
• D. All of the above provides

Answer 1

The correct option is A The balance sheet provides

The balance sheet provides a snapshot of the financial condition of the firm at a particular time. It shows the balance of assets, equities and liabilities at a single moment of time.

The Income Statement is one of a company's core financial statements that shows their profit and loss. The P&L statement shows a company's ability to generate sales, manage expenses, and create profits. over a period of time.

Cash flow statement is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities.