Asked by Alexis Shyanne on Jul 03, 2024
Verified
A balance sheet shows profits or losses of a business at a point in time.
Balance Sheet
A financial statement that shows assets and liabilities at one point in time.
Profits
The financial gain realized when the revenues of a business exceed the costs and expenses related to its operation.
Losses
The negative difference between the cost of investment and its current value or selling price.
- Recognize the financial parameters and techniques used to appraise a business's health.
Verified Answer
NZ
Nicolette ZalecznyJul 09, 2024
Final Answer :
False
Explanation :
A balance sheet shows the assets, liabilities, and equity of a business at a point in time. It does not show profits or losses, which are reflected in the income statement.
Learning Objectives
- Recognize the financial parameters and techniques used to appraise a business's health.
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