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Finra Exam Series-7 Topic 3 Question 93 Discussion

Actual exam question for Finra's Series-7 exam
Question #: 93
Topic #: 3
[All Series-7 Questions]

The accounting statement that represents a company's financial position on a particular date is the:

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Suggested Answer: B

balance sheet. This report reflects the entire condition of the company by showing all assets, liabilities, and components of net worth.


by Tamesha at Jul 14, 2024, 03:51 PM

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Tiffiny
1 months ago
Hey, I heard the balance sheet is like the company's dating profile - it's all about the assets and liabilities, baby!
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Lili
6 days ago
D) cash flow statement
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Ciara
16 days ago
C) Profit and Loss
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Leonardo
19 days ago
B) balance sheet
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Coletta
27 days ago
A) income statement
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Vannessa
2 months ago
Profit and Loss? Sounds like a bad country song. The balance sheet is the true financial anthem!
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Dierdre
2 months ago
Cash flow statement? That's like trying to read a crystal ball. The balance sheet is the real deal!
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Callie
26 days ago
Yeah, the cash flow statement can be tricky to interpret, but the balance sheet is more straightforward.
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Cherry
29 days ago
I agree, the balance sheet gives a clear snapshot of a company's financial position.
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Audra
2 months ago
That makes sense, the balance sheet includes assets, liabilities, and equity at a specific point in time.
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Reita
2 months ago
But the question asks for the financial position on a particular date, so it must be the balance sheet.
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Shaun
2 months ago
Income statement? Nah, that's just like looking at the past. The balance sheet is where it's at!
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Derrick
1 months ago
I always look at the balance sheet first to see how the company is doing financially.
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Emerson
1 months ago
The balance sheet is crucial for understanding the company's assets and liabilities.
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Peggie
1 months ago
Yeah, the income statement is important too, but the balance sheet shows the big picture.
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Marshall
2 months ago
I agree, the balance sheet gives a snapshot of the company's financial health.
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Ben
2 months ago
I think it's A) income statement, because it shows the company's financial performance over a period of time.
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Audra
2 months ago
I agree with Reita, the balance sheet shows the company's financial position at a specific date.
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Ethan
3 months ago
The balance sheet is the way to go, it's like a snapshot of the company's financial health!
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Arthur
2 months ago
Yeah, it's important to see how much the company owns and owes at a specific point in time.
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Laurel
2 months ago
I agree, the balance sheet gives a clear picture of the company's assets and liabilities.
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Reita
3 months ago
B) balance sheet
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