Which of the following financial statements includes the assets, liabilities, and equity accounts of a business?
A. Income statement
B. Balance sheet
C. Form W4
D. Operating budget
B.
yes
Thank you
To answer this question, we first need to understand what each financial statement includes.
1. Income statement: This financial statement shows the revenues, expenses, and net income (or loss) of a business over a specific period of time. It helps to determine the profitability of the business.
2. Balance sheet: This financial statement provides a snapshot of a company's financial position at a specific point in time. It includes the assets, liabilities, and equity of the business.
3. Form W4: This is not a financial statement but rather a form used by employees to provide their withholding allowance for payroll purposes.
4. Operating budget: This is a financial plan that outlines the expected revenues and expenses for a particular period. It is used to help manage and control the finances of a business.
Based on these definitions, the financial statement that includes the assets, liabilities, and equity accounts of a business is the Balance Sheet. Therefore, option B is the correct answer.