ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A personal balance sheet would report all of the following EXCEPT
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net income
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amount in your checking account
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value of your car
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home mortgage
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Explanation:
Detailed explanation-1: -A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity. The balance sheet is one of the three core financial statements that are used to evaluate a business.
Detailed explanation-2: -Personal property: Items such as furniture and household goods are typically not included as assets on a personal balance sheet because these items can’t easily be sold to pay off a loan.
Detailed explanation-3: -Expenses are not a part of a Company‘s balance sheet.
There is 1 question to complete.