Question

why is balance sheet prepared?​

Answer 1

The balance sheet is prepared in order to report an organization's financial position at the end of an accounting period, such as midnight on December 31. A corporation's balance sheet reports its: Assets (resources that were acquired in past transactions) Liabilities (obligations and customer deposits)

Answer 2

Answer:

The balance sheet is prepared in order to report an organization's financial position at the end of an accounting period, such as midnight on December