Question

What is Balance Sheet? (Answer in one sentence)

Answer 1

BALANCE SHEET IS A STATEMENT.

SHOWING FINANCIAL POSITION OF THE BUSINESS..

ON PARTICULAR DATE

Answer 2

Answer:

As per the question

Balance sheet :

Balance sheet is a report which shows in a statement form the relationship between assets, liabilities and owners equity at a point in time

To determine what the warranty reserve should be

To determine what the service agreement reserve should be

To determine the value of money

To determine the how company profits compare to the owner' s investment

The Income statement focuses on company profitability. the balance sheet on the overall health of the company.

The balance sheet provides key financial information for management in terms of financial ratios.