Balance Sheet
A balance sheet is a document which details a company’s total assets and total liabilities with a view to provide a company’s net worth value at a specific period of time. A company’s balance sheet is used by companies, sole proprietors and business partnerships alike. A balance sheet is divided into three sections; assets, liabilities and ownership equity. It must be noted that a balance sheet only shows a company’s financial status and value for a certain moment in time.
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