Why liabilities on left side and assets on right side of balancesheet
Answers
Answered by
0
Answer:
Balance sheet is a financial statement showing the assets, liabilities and shareholder's equity of a company at a particular point of time. It is usually prepared on the last day of each financial year. The balance sheet gives a snapshot of the the funds which the company owes and the fund s which are owed to the company.
The liabilities section represents the sources of fund which the company is liable to repay in the future. On the other hand, the assets section represents the uses of the funds by the organization.
Explanation:
Mark as brainliest answer
Answered by
0
Answer:
bcoz itz the rule
Explanation:
Similar questions