Which financial statement would you utilise to determine whether a company will be able to pay liabilities that are due in 30 days?

Income statement.

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Balance sheet.

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Statement of cash flows

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Statement of stockholders’ equity.

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Solution

The correct option is B
Balance sheet.

Answer b. Balance sheet
Explanation: In accounting, a balance sheet report is a summary of the monetary balances of an individual or association, regardless of whether it be a business partnership, a sole proprietorship, an enterprise, a private limited company, a private limited company, a government or a not-for-profit entity.

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