Question

As a good tool to check to see if a business is on track financially based on projections, which financial statement provides to a business a snapshot of what it has and what it owes at any given point in time?(1 point)
Responses

Owner's equity statement
Owner's equity statement

Statement of cash flows
Statement of cash flows

Balance sheet
Balance sheet

Debt equity statement
Debt equity statement

Answer 1

Balance sheet

It shows a business's assets, liabilities and owner's equity at a specific point in time, so you can see what it has and what it owes.