Multiple choice

Information on the financial position of a business is shown by:

  1. Statement of cash flow

  2. Statement of changes in equity

  3. Statement of financial position

  4. Statement of comprehensive income

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The statement of financial position (balance sheet) reports the assets, liabilities, and equity of a business at a specific point in time, representing its financial position.