Question:

Which two of the three main financial statemens measure?

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the performance of a corporation over a period of time and which financial statement provides a snapshot of a corporation at a point in time?

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  1. Income Statement (or Profit & Loss Statement) measures performance over a period of time.

    Balance sheet provides a snapshot at a point in time of a company's assets and liabilities (net worth).


  2. Balance sheet  corresponds a point in time.

    Income statement and cash flow correspond a period of time.

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