A(n) reports the firm's financial condition on a specific date.Need help? Review these concept resources.

Question

A(n) reports the firm's financial condition on a specific date.Need help? Review these concept resources.
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Solution 1

The statement that reports a firm's financial condition on a specific date is known as a Balance Sheet.

Step 1: Understand the question - The question is asking for a financial statement that provides information about a company's financial status on a specific date.

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