BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The term balance sheet refers to a financial statement that reports a company’s assets, liabilities, and shareholder equity at a specific point in time.

Detailed explanation-2: -A balance sheet reports financial information on a specific date and includes the assets, liabilities, and owner’s equity. A balance sheet reports information about the elements of the accounting equation.

Detailed explanation-3: -Balance Sheet. The balance sheet provides an overview of a company’s assets, liabilities, and shareholders’ equity as a snapshot in time.

Detailed explanation-4: -Balance Sheet Basics Your balance sheet (sometimes called a statement of financial position) provides a snapshot of your practice’s financial status at a particular point in time. This financial statement details your assets, liabilities and equity, as of a particular date.