n NISM Certifications
XV NISM Series XV
Medium

Which financial statement provides a summary of a company’s assets and liabilities at a specific point in time?

Practice question from NISM XV Mock Test 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Profit and Loss Statement

  2. Balance Sheet

    Correct answer

  3. C

    Cash Flow Statement

  4. D

    None of the above

Why this is the answer

A balance sheet shows assets, liabilities, and equity at a specific date.

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NISM XV Mock Test 5