Answer:
The financial statement that shows the state of the firm's assets, liabilities, and owner's equity on a specific date is called a balance sheet
Explanation:
By going through the question, the balance sheet option is appropriate.
As balance sheet involves assets, liabilities and shareholder equity.
In mathematically,
Total Assets = Total Liabilities + Owner's equity
This we called the accounting equation
The balance sheet was made on the specific date because it interprets the firm financial position,performance,liquidity,solvency,leverage, etc.
Hence, The financial statement that shows the state of the firm's assets, liabilities, and owner's equity on a specific date is called a balance sheet
Answer:
Balance Sheet
Explanation:
EDGE 2021 Business Entrepreneurship
