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Question 512 - CSCP discussion

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Which of the to the financial following descriptions applies balance sheet for a firm?

A.
Reflects the financial position of a firm at a specific point in time.
Answers
A.
Reflects the financial position of a firm at a specific point in time.
B.
Reflects the cash flow over a specified period of time
Answers
B.
Reflects the cash flow over a specified period of time
C.
..provides details on the changes to equity.
Answers
C.
..provides details on the changes to equity.
D.
..provides details pertaining to the financial success of operations.
Answers
D.
..provides details pertaining to the financial success of operations.
Suggested answer: A

Explanation:

According to the APICS CSCP - Supply Chain Management Certification, the financial balance sheet is a statement that reflects the financial position of a firm at a specific point in time, showing its assets, liabilities, and equity. The balance sheet is based on the accounting equation: Assets = Liabilities + Equity.

asked 16/09/2024
Camrin Schroyer
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