BALANCE SHEET

What is balance sheet?

• A Balance sheet is one of a company's core financial sheet that shows their profit and loss

• 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.

Which of the following does not belongs to liability?

• Mobile Phone Bill

• Owed To Friends

• Bank Loan

• Bank Balance

Examples of assets include:

• Art collection, Jewelry, and unpaid taxes

• Real Property, Car, and credit cards

• Car, Jewelry, and Checking account

• Real Property, Car loan, Jewelry

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

• Property

• Assets

• Financial obligations

• Net Worth

Which of the following is considered an asset?

• Debit Card

• Mortgage

• Bank Loan

• Savings account