The financial statement that shows tangible assets is the Balance Sheet.

Here's why:

1. A Balance Sheet is a financial statement that provides a snapshot of what a company owns (assets), what it owes (liabilities), and the shareholders' interest (equity) at a specific point in time.

2. Tangible assets are physical assets that can be touched. They include things like buildings, machinery, equipment, vehicles, and inventory. These are listed under the 'Assets' section of the Balance Sheet.

3. The Statement of Retained Earnings shows the changes in a company's retained earnings over the reporting period. It does not show tangible assets.

4. The Income Statement shows a company's revenues and expenses during a particular period. It does not show tangible assets.

So, the correct answer to the multiple-choice question is the Balance Sheet.

Question

The financial statement that shows tangible assets is the Balance Sheet.

Here's why:

1. A Balance Sheet is a financial statement that provides a snapshot of what a company owns (assets), what it owes (liabilities), and the shareholders' interest (equity) at a specific point in time.

2. Tangible assets are physical assets that can be touched. They include things like buildings, machinery, equipment, vehicles, and inventory. These are listed under the 'Assets' section of the Balance Sheet.

3. The Statement of Retained Earnings shows the changes in a company's retained earnings over the reporting period. It does not show tangible assets.

4. The Income Statement shows a company's revenues and expenses during a particular period. It does not show tangible assets.

So, the correct answer to the multiple-choice question is the Balance Sheet.

Knowee AI · Accepted Answer

The financial statement that shows tangible assets is the Balance Sheet.

Here's why:

1. A Balance Sheet is a financial statement that provides a snapshot of what a company owns (assets), what it owes (liabilities), and the shareholders' interest (equity) at a specific point in time.

2. Tangible assets are physical assets that can be touched. They include things like buildings, machinery, equipment, vehicles, and inventory. These are listed under the 'Assets' section of the Balance Sheet.

3. The Statement of Retained Earnings shows the changes in a company's retained earnings over the reporting period. It does not show tangible assets.

4. The Income Statement shows a company's revenues and expenses during a particular period. It does not show tangible assets.

So, the correct answer to the multiple-choice question is the Balance Sheet.

Which financial statement shows tangible assets?Multiple choice question.Statement of retained earningsBalance sheetIncome statement

Question

Solution

Similar Questions

Upgrade your grade with Knowee