Which of the following statements is are TRUE regarding the

Which of the following statements is (are) TRUE regarding the Balance Sheet? (Select all correct choices).

A) It is prepared for a period of time

B) It is also known as the Statement of Financial Position

C) Its layout communicates the accounting equation

Option B and Option C are correct.

Balance sheet is also known as Statement of Financial Position. It\'s layout also communicates the accounting equation which is

Assets = Liabilities + Shareholders equity