The balance sheet tells us the changes in the balance of accounts over the period.

1. False, the balance sheet states the balance in the accounts at a snap-shot in time.

2. False, the balance sheet only shows changes to income accounts, all other accounts are stated at a specific point in time.

3. True, that is why it is called the balance sheet.

4. True, the balance sheet shows the new balance in accounts and the change in those accounts from the prior period.

(Could you please also give a brief explanation why)