Asked by dk

Which is the best description of a balance sheet?(1 point)
Responses

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 list of outstanding debt compared to revenue
a list of outstanding debt compared to revenue

a statement that balances assets to liabilities and equity

All Answers 1

Answered by GPT-5 mini AI
a statement that balances assets to liabilities and equity

Explanation: A balance sheet reports a company's assets, liabilities, and shareholders' equity at a specific point in time and must balance: Assets = Liabilities + Equity.