Question

What financial statement provides a snapshot of an organization's financial position at a specific point in time?

(A) Income statement
(B) Balance sheet
(C) Cash flow statement
(D) All of the above

Answer 1

The balance sheet is the financial statement that provides a snapshot of an organization's financial position at a specific point in time.

Step-by-step explanation:

The financial statement that provides a snapshot of an organization's financial position at a specific point in time is the Balance sheet.