A) A balance sheet shows a company’s assets, liabilities, and equity at a specific point in time, while an income statement shows a company’s revenue and expenses over a period of time
B) A balance sheet shows a company’s revenue and expenses over a period of time, while an income statement shows a company’s assets, liabilities, and equity at a specific point in time
C) A balance sheet and an income statement both show a company’s revenue and expenses
D) A balance sheet and an income statement both show a company’s assets and liabilities
Answer: A) A balance sheet shows a company’s assets, liabilities, and equity at a specific point in time, while an income statement shows a company’s revenue and expenses over a period of time