________ is a statement of a firm's financial position on a particular date and is known as a statement of financial position
A) Cash flow statement
B) Balance sheet
C) Income statement
D) Expense report
E) Profit and loss statement
Answer: B
Explanation: Balance sheet is a statement of a firm's financial position on a particular date. It is also known as a statement of financial position.
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Fill in the blank(s) with the appropriate word(s).
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