Which of the following is a snapshot of a business at any given time?

The balance sheet is a financial statement that provides a snapshot of a business's financial condition at a specific moment in time. It lists the company’s assets, liabilities, and equity, allowing stakeholders to understand what the company owns and owes, as well as the residual interest of its owners. This snapshot is crucial because it helps in assessing the company’s liquidity, financial stability, and capital structure, providing a clear view of what resources are available and how they are financed.

In contrast, a cash flow statement details the inflows and outflows of cash over a period, showing how cash is generated and used, which reflects activity rather than a specific point in time. The income statement summarizes company revenues and expenses over a specific period, resulting in net income or loss, indicating profitability but not a real-time view of assets and liabilities. The statement of changes in equity tracks the movements in equity components over a period, and while it provides insights into how equity is managed, it does not serve as a snapshot of the overall financial position at a given moment.