Do you know accounting? What is balance sheet?

Question

Accepted Answer

A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.

It shows the company's assets, liabilities, and shareholders' equity.
Assets are what the company owns, such as cash, inventory, and property.
Liabilities are what the company owes, such as loans and accounts payable.
Shareholders' equity represents the company's net worth.
The balance sheet follows the formula: Assets = Liabilities + Shareholders' Equity.
It helps investors, creditors, and other stakeholders assess the financial health of a company.

Accepted Answer

Yes i know accounting.
Balance sheet is a final statement prepared at the end of every financial year to show the postion of assets and liabilities.

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