What type of financial document displays an organization's assets and liabilities at the end of the fiscal year?

A balance sheet is a financial document that provides a snapshot of an organization’s financial position at a specific point in time, usually at the end of the fiscal year. It summarizes the company's assets, liabilities, and equity. Assets are what the organization owns, liabilities represent what it owes, and equity shows the residual interest of the owners after liabilities are deducted from assets. This format allows stakeholders to assess the company’s liquidity, financial stability, and capital structure.

In contrast, a cash flow statement details the inflows and outflows of cash over a period, focusing on the company’s liquidity and cash management. An income statement shows the organization’s revenues and expenses during a fiscal period, capturing profitability rather than assets or liabilities. Lastly, a profit and loss statement is another term that often refers to the income statement, focusing again on the performance over time rather than a snapshot of financial standing. Thus, the balance sheet uniquely fulfills the requirement for summarizing an organization’s assets and liabilities specifically at the end of the fiscal year.