A statement of financial position (balance sheet): Multiple Choice Assists creditors in evaluating the debt-paying ability of a business by showing the assets and liabilities of the business, plus the assets and liabilities of its owner (or owners). Shows the assets, liabilities, and owners' equity of a business entity, valued in conformity with generally accepted accounting principles. Provides owners, investors, and other interested parties with all the financial information they need to evaluate the financial strength, profitability, and future prospects of a given business entity. Shows the current market value of the owners' equity in the business as of the date prepared