. Maltiple Choice Questions (2 points each, z I. The primary purpose of the balance sheet is to A. Measure the net income of a business up to a particular poi epr he ifterence berween cash inflows and cash outflows for the period CRepor the financial position of the reporting entity at a particular point in time. D. Repar the current value of the business. ed th follovine amounts at the end of the first year of operations