Final answer:
The financial statement that displays a firm's financial position on a particular date is called the balance sheet. It lists a company's assets and liabilities.
Step-by-step explanation:
The financial statement that displays a firm's financial position on a particular date is called the balance sheet. A balance sheet is an accounting tool that lists a company's assets (what it owns) and liabilities (what it owes). The net worth of a company is calculated by subtracting the liabilities from the assets.