What are the meant by balancesheet?

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Accepted Answer

A balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

A balance sheet provides a snapshot of a company's financial position.
It shows what a company owns (assets), what it owes (liabilities), and the difference between the two (shareholders' equity).
Assets are typically listed in order of liquidity, while liabilities are listed in order of maturity.
The balance sheet equation is: Assets = Liabilities + Shareholders' Equity.
Example: If a company has $100,000 in assets, $60,000 in liabilities, and $40,000 in shareholders' equity, the balance sheet would reflect this.
The balance sheet is one of the key financial statements used by investors, creditors, and analysts to assess a company's financial health.

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