Remaining Time: 1 hour, 11 minutes, 34 seconds. Question Completion Status: QUESTION 6 Which of the following describes the primary objective of the balance sheet? O a. To measure the net income of a business up to a particular point in time o b. To report the difference between cash inflows and cash outflows for the period O c. To report the financial position of the reporting entity at a particular point in time d. To report the market value of assets, liabilities, and stockholders' equity at a particular point in time QUESTION 7 Assets are recorded in the balance sheet in order of: a. Market value b. Maturity c. Historical value d. Liquidity QUESTION 8