Question: Which financial statement represents the equation: Assets = Liabilities + Equity? a) Income statement b) Balance sheet c) Statement of cash flows d) Statement of changes in equity

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 13MCQ
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Question: Which financial statement represents the equation: Assets = Liabilities + Equity?
a) Income statement
b) Balance sheet
c) Statement of cash flows
d) Statement of changes in equity
Transcribed Image Text:Question: Which financial statement represents the equation: Assets = Liabilities + Equity? a) Income statement b) Balance sheet c) Statement of cash flows d) Statement of changes in equity
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