A balance sheet is a financial statement that reports the assets, which are resources owned by a business, liabilities, and stockholders’ equity at a specific date. Examples of assets would be computers, delivery trucks, furniture, and buildings.
A balance sheet has two categories: Assets, liabilities, and stockholders’ equity. Liabilities are the debts and obligations of a business. Liabilities represent c claims of creditors on the assets of business. Examples of liabilities would be notes
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