question 2 out of 5 the balance sheet describes a familys wealth at a certain point in time. as an annual…

question 2 out of 5 the balance sheet describes a familys wealth at a certain point in time. as an annual summary. at a future time. as a time period less than one year. submit

question 2 out of 5 the balance sheet describes a familys wealth at a certain point in time. as an annual summary. at a future time. as a time period less than one year. submit

Answer

Brief Explanations:

A balance - sheet shows the financial position (wealth in terms of assets, liabilities and equity) of an entity at a specific point in time. It is not an annual summary (that's more like an income statement over a period), not at a future time specifically, and not defined by a time - period less than one year.

Answer:

at a certain point in time.