The assets (what a business owns), liabilities (what a business owes), and capital (how much a
business is worth) are shown on a(n):
income statement
profit and loss statement
balance sheet
cash flow statement

Question

01-02-2021
Business

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The assets (what a business owns), liabilities (what a business owes), and capital (how much a
business is worth) are shown on a(n):
income statement
profit and loss statement
balance sheet
cash flow statement

Sagot :

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Samawati Samawati · Answer 1 · 2021-02-03T14:09:37-05:00

Samawati Samawati

03-02-2021

Answer:

balance sheet

Explanation:

Businesses are required to prepare a balance sheet at the end of every financial year. The balance reports the net worth of a company. It lists all the assets and their values on one side and liabilities and equity on the side. The balance sheet follows the accounting equation to indicate the total assets on one side. It shows how the assets have been financed through liabilities and equity.

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