What does the Balance Sheet reflect? a. Net changes over a period of time b. Only annual balances c. Net Income over a period of1 month

My answer is b. Only annual balances.

Balance Sheet or Statement of Financial Position shows the company's snapshot at a certain point of time. Though balances usually prepared on an annual basis, it could be prepared on a specific point of time (e.g. monthly).

Answer A. Net changes over a period of time is presented in Statement of Cash Flows.

Answer C. Net Income over a period of1 month is presented in Statement of Profit or Loss.

a. Net changes over a period of time