Question

What is a balance sheet??

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Answer 1

A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period.

Answer 2

Answer:

Definition: Balance Sheet is the financial statement of a company which includes assets, liabilities, equity capital, total debt, etc. at a point in time. Balance sheet includes assets on one side, and liabilities on the other. Assets are those resources or things which the company owns.

Explanation:

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