6:20 PM
What is Balance Sheet ?
Definition of 'Balance Sheet'
Balance Sheet is simple language we can say that It is the financial statement of a company which includes assets, liabilities, equity capital, total debt, etc. at a point in time. Balance sheet includes assets on one side, and liabilities on the other.
For the balance sheet to reflect the true picture, both heads (liabilities & assets) should tally
(Assets = Liabilities + Equity).
Definition of 'Balance Sheet'
Balance Sheet is simple language we can say that It is the financial statement of a company which includes assets, liabilities, equity capital, total debt, etc. at a point in time. Balance sheet includes assets on one side, and liabilities on the other.
For the balance sheet to reflect the true picture, both heads (liabilities & assets) should tally
(Assets = Liabilities + Equity).
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