BALANCE SHEET

Front

Balance sheet

Back

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.

Front

Which one is not belongs to liability? Options: Mobile Phone Bill, Bank Loan, Bank Balance, Owed To Friends

Back

Bank Balance

Front

Dose expense in the liability/Assets account?

Back

Assets

Front

Property owned by an individual

Back

Asset

Front

The value of all assets minus the value of all liabilities.

Back

Net Worth

Front

Debts and financial obligations (responsibilities).

Back

Liabilities

Front

Examples of Liabilities include which of the following:

Back

Loans, mortgage, and credit cards

Front

Positive Net Worth

Back

assets are greater than liabilities

Front

Negative Net Worth

Back

Assets are less than liabilities

Front

Examples of assets include:

Back

Car, Jewelry, and Checking account