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The Balance Sheet can best be described as:________. A. A view of a firm's performance over a period of time.B. A snapshot of the business at a point in time.C. A description of the cash available for
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The Balance Sheet can best be described as:________. A. A view of a firm's performance over a period of time.B. A snapshot of the business at a point in time.C. A description of the cash available for discretionary use.D. A summary of a firm's assets.E. A summary of a firm's liabilities.

User Bassxzero
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Answer:

Option A and E are correct.

Step-by-step explanation:

The Balance sheet discribes all the worth of assets that the company owns and the sources of finance that it used to finance these assets. These sources of finance includes equity finance, long term and short term finances required to finance these assets. So saying that it is the summary of assets and liabilities of the company is correct option.

User Bradley D
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