Which one of the following best describes a balance sheet? A description of the entity's operations over a period of timeA snapshot at a point in time of an entity's assets, liabilities and owners' equityA reconciliation of an entity's bank account balanceA description of the company's cash flows over a period of time

The answer is B. timeA snapshot at a point in time of an entity's assets, liabilities and owners' equity

Explanation:

A balance sheet is the financial position of a company at a point in time. It is one of the financial statements (along with income statement, cash flow statement) that report the company's assets, liabilities and shareholders equity.

In the balance sheet, we have current (cash, accounts receivable, inventory etc) and non-current assets(plant and machinery, land etc); we also have current liabilities (short term loan, trade payable) and non-current asset(bonds) and lastly shareholders equity (common shareholders, preferred shareholders etc.)

The sum of equity and liabilities must equal total assets.

steering wheels are always situated on the left side of the car.

always drive on the right side of the road.

white lines separate lanes of traffic traveling the same direction.

hashed or broken lines means you may change lanes when it is safe.

solid white lines mean stay in your lane.

yellow lines separate traffic moving in opposing directions.

hashed or broken yellow lines mean you can carefully pass, paying attention to oncoming traffic.

never cross a solid yellow line (or double yellow line).

when turning left at an intersection, pass in front of any cars that are turning left from the opposing direction (do not try to pass behind them).

use the left lane to pass other cars traveling your direction.

do not pass in the right lane unless absolutely necessary.

if you are driving in the far left hand lane and someone would like to pass you, move over to the right lane when it is safe to do so and allow them to pass.

you must always yield to pedestrians.

come to a complete stop whenever you see pedestrians trying to cross the street.

never pass a school bus if it has flashing red lights. wait until the lights have stopped.

be aware of bicyclists. often they share the road with cars and are supposed to also follow general traffic laws.

be particularly careful about driving in cities with bike lanes -- always check before turning that a bike is not coming.

it is mandatory to pull over or stop at an intersection to allow an emergency vehicle to pass you if you see one traveling with lights flashing and/or a siren running.

do not overuse your car horn. horns are used almost exclusively for emergency situations or for when you feel unsafe.

explanation: