The correct answer is: Date.
A balance sheet is a financial statement that reports a company’s assets, liabilities, and equity at a specific point in time. It is one of the three main financial statements, along with the income statement and the cash flow statement.
The balance sheet equation is:
Assets = Liabilities + Equity
Assets are the things that a company owns, such as cash, inventory, and property. Liabilities are the things that a company owes, such as accounts payable and long-term debt. Equity is the difference between assets and liabilities. It represents the ownership interest in the company.
The balance sheet is a snapshot of a company’s financial position at a specific point in time. It is used to assess a company’s financial health and to make comparisons to other companies.
Option A: Date is the correct answer. A balance sheet shows financial position on a particular date.
Option B: Month is incorrect. A balance sheet does not show financial position for a month.
Option C: 6 months is incorrect. A balance sheet does not show financial position for 6 months.
Option D: Year is incorrect. A balance sheet does not show financial position for a year.