What financial document displays the assets and liabilities of a company at a given date?

The balance sheet is the correct financial document that displays a company's assets and liabilities at a specific point in time. It provides a snapshot of the company’s financial position by listing what it owns (assets) and what it owes (liabilities), ultimately allowing stakeholders to assess the company’s net worth or equity.

This document follows a fundamental accounting equation: Assets = Liabilities + Equity. The balance sheet is integral for investors, creditors, and management to understand how well the company is managing its resources and obligations.

In contrast, the income statement focuses on the company’s revenues and expenses over a certain period, providing insight into financial performance rather than a snapshot of position. The cash flow statement details the movement of cash in and out of the business, tracking liquidity over time, but does not summarize assets or liabilities. The equity statement primarily outlines changes in owners' equity during a reporting period, which is separate from the comprehensive view of a balance sheet.