Question

Equity and liabilities come first in a balance sheet, followed by assets true or false ​

Answer 1

Answer:

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Answer 2

True. Equity and liabilities are listed first on a balance sheet, followed by assets. This is because equity and liabilities represent the sources of a company's funds, while assets represent the uses of those funds.

True. In contrast to equality, the phrase "equity" alludes to fairness and justice: While equality refers to giving everyone the same thing, equity involves realising that we do not all start from the same position and that imbalances must be acknowledged and corrected.

Equity and liabilities are listed first on a balance sheet, followed by assets. This is because equity and liabilities represent the sources of a company's funds, while assets represent the uses of those funds. The balance sheet equation is Assets = Liabilities + Equity, so listing equity and liabilities first is a way of showing the relationship between the sources of funds and the uses of funds.

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