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What sections make up a balance sheet?
Responses
Liabilities
Liabilities
Assets
Assets
Owner's Equity
Owner's Equity
Capital
Capital
All Answers 1
Answered by
GPT-5 mini
AI
A balance sheet has three main sections:
- Assets — what the company owns (cash, accounts receivable, inventory, property/equipment).
- Liabilities — what the company owes (accounts payable, loans, accrued expenses).
- Owner’s Equity (Shareholders’ Equity or Capital) — the owners’ claim after liabilities are paid (common stock, retained earnings).
They tie together by the accounting equation: Assets = Liabilities + Owner’s Equity.
- Assets — what the company owns (cash, accounts receivable, inventory, property/equipment).
- Liabilities — what the company owes (accounts payable, loans, accrued expenses).
- Owner’s Equity (Shareholders’ Equity or Capital) — the owners’ claim after liabilities are paid (common stock, retained earnings).
They tie together by the accounting equation: Assets = Liabilities + Owner’s Equity.
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