Which financial statement shows a business’s financial position at a specific date

Which financial statement shows a business’s financial position at a specific date

Which financial statement shows a business’s financial position at a specific date?

A. Income statement

B. Statement of financial position

C. Cash flow statement

D. Statement of changes in equity

Answer: B

Explanation: The statement of financial position (balance sheet) presents assets, liabilities and equity at a specific point in time, showing the business’s financial position.