Answer:
A) is a statement showing an individual's or a firm's financial position at a particular point in time.
Explanation:
A balance sheet is a list of the assets, liabilities and equity of an entity as at a particular date. A balance sheet reports the financial position of an entity as at a particular date, usually the end of a financial year.
A balance sheet is divided into two parts:
The top half of the balance sheet shows the assets of the business, with non-current assets first, and current assets below the non-current assets.
The lower half of the balance sheet shows equity, followed by liabilities. The liabilities are shown with non-current (long-term) liabilities first, and then current liabilities.
The top half of balance sheet=Lower half of the balance sheet
which means that:
Assets=Equity+Liability
Based on the above discussion, answer is A) is a statement showing an individual's or a firm's financial position at a particular point in time.
