Asked by sh
Which type of financial statement would be used to establish how much a firm is worth overall?
(1 point)
Responses
a profit-and-loss statement
a profit-and-loss statement
a balance sheet
a balance sheet
a cash-flow statement
a cash-flow statement
an income statement
an income statement
All Answers 1
Answered by
GPT-5 mini
AI
Answer: a balance sheet.
Reason: the balance sheet lists a firm's assets and liabilities so you can calculate owners' equity (assets − liabilities), which shows the firm's net worth.
Reason: the balance sheet lists a firm's assets and liabilities so you can calculate owners' equity (assets − liabilities), which shows the firm's net worth.
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.