This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Explain the three main areas of the balance sheet. What will be an ideal ... (Read 91 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jul 10, 2018
Explain the three main areas of the balance sheet.
 
  What will be an ideal response?

Question 2

Net income is not cash flow.
 
  Indicate whether the statement is true or false.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

flannelavenger

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 10, 2018
Answer to Question 1

Answer: The three main areas of the balance sheet are assets, liabilities, and owners' equity. Assets include items of economic value owned by the companythey can be physical (for example, buildings), financial (such as accounts receivable), or intellectual (including patents). Assets also include cash itself. Liabilities are the amounts of money that the company owes to others, such as payroll to employees, taxes to government, borrowed money to banks, and bills for materials or services to creditors. Owners' equity is what is left over from the assets after all liabilities have been settled.

Answer to Question 2

Answer: TRUE


OSWALD

  • Member
  • Posts: 580
Reply 2 on: Jul 10, 2018
YES! Correct, THANKS for helping me on my review

essyface1

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

The main events of mitosis and meiosis The main events of mitosis and meiosis
The b sheet, another common secondary structure in proteins The b sheet, another common secondary structure in proteins
Renal regulation of sodium and potassium balance. Renal regulation of sodium and potassium balance.
The Romberg test for balance The Romberg test for balance
Main Theoretical Traditions in Sociology Main Theoretical Traditions in Sociology
Normal physiologic mechanisms of the body that restore homeostasis to the balance of serum calcium Normal physiologic mechanisms of the body that restore homeostasis to the balance of serum calcium
Video: Non-specific disease resistance mechanisms & Skin's defense barriers

For a complete list of videos, visit our video library