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Author Question: Define a balance sheet (also called a statement of financial position). What does it ... (Read 96 times)

oliviahorn72

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on: Jul 14, 2018
Define a balance sheet (also called a statement of financial position). What does it balance?

Question 2

Legislation regarding personnel practices has been primarily in the areas of employee rights, job safety, and elimination of discrimination.
 
 Indicate whether the statement is true or false


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aprice35067

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Reply #1 on: Jul 14, 2018
Answer to Question 1

A balance sheet, also called a statement of financial position, is a summary of the dollar amounts of a firm's assets, liabilities, and owners' equity accounts at the end of a specific accounting period. The balance sheet must demonstrate that assets are equal to liabilities plus owners' equity, and the accounting equation is still in balance at the end of an accounting period after all transactions for the period have been recorded.

Answer to Question 2

True


oliviahorn72

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Reply #2 on: Jul 14, 2018
Thank you


aprice35067

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Reply #3 on: Jul 14, 2018
No problemo


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