Which are the two important concepts of balance sheet ?
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It can also be referred to as a statement of net worth, or a statement of financial position. The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity. As such, the balance sheet is divided into two sides (or sections). The left side of the balance sheet outlines all of a company's assets
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Answer:
Balance Sheet has two main heads –assets and liabilities.
Explanation:
Balance Sheet is the financial statement of a company which includes assets, liabilities, equity capital, total debt, etc.
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