what is balance sheet ?
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A balance sheet (also called the statement of financial position), can be defined as a statement of a firm's assets, liabilities and net worth. It provides a snapshot of a business at a point in time. ... It got its name as assets minus liabilities (net assets) must equal the owner's equity (they must balance).
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a written statement showing the amount of money and property that a company has, and how much has been received and paid out
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