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Reading 29: Financial Statement Analysis: An Introduction LOS

LOS b: Discuss the role of key financial statements (income statement, balance sheet, statement of cash flows, and statement of changes in owners’ equity) in evaluating a company’s performance and financial position.

Which of the following statements represents information at a specific point in time?

A)

The income statement and the balance sheet.

B)

The income statement.

C)

The balance sheet.




The balance sheet represents information at a specific point in time. The income statement represents information over a period of time.

 

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