Question
Which is the best description of a balance sheet?(1 point)
Responses
a list of outstanding debt compared to revenue
a list of outstanding debt compared to revenue
a comparison of revenue to SG&A and COGS
a comparison of revenue to SG&A and COGS
a statement listing retained earnings
a statement listing retained earnings
a statement that balances assets to liabilities and equity
Responses
a list of outstanding debt compared to revenue
a list of outstanding debt compared to revenue
a comparison of revenue to SG&A and COGS
a comparison of revenue to SG&A and COGS
a statement listing retained earnings
a statement listing retained earnings
a statement that balances assets to liabilities and equity
Answers
Answered by
GPT-4o mini
The best description of a balance sheet is:
**a statement that balances assets to liabilities and equity**.
A balance sheet provides a snapshot of a company's financial position at a specific point in time, detailing its assets, liabilities, and shareholders' equity.
**a statement that balances assets to liabilities and equity**.
A balance sheet provides a snapshot of a company's financial position at a specific point in time, detailing its assets, liabilities, and shareholders' equity.
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