Responses
a statement that balances assets to liabilities and equity
a statement that balances assets to liabilities and equity
a comparison of revenue to SG&A and COGS
a comparison of revenue to SG&A and COGS
a list of outstanding debt compared to revenue
a list of outstanding debt compared to revenue
a statement listing retained earnings
a statement listing retained earnings
1 answer
The best description of a balance sheet is:
a statement that balances assets to liabilities and equity.
This statement reflects the accounting equation: Assets = Liabilities + Equity, providing a snapshot of a company's financial position at a specific point in time.
