Which statement about the balance sheet is true?

Question $4$Answer

a$.$

The balance sheet for a given year is designed to give us an idea of what happened to the firm during that year.

b$.$

A balance sheet lists the assets that will be converted to cash first and the longest$-$lived ones last.

c$.$

For most companies, the market value of the stock equals the book value of the stock as reported on the balance sheet.

d$.$

The balance sheet for a given year tells us how much money the company earned during that year.