The balance sheet is an expression of the accounting equation.

Accounting Equation

The fundamental principle of accounting that states Assets = Liabilities + Equity, balancing a company's financials.

Balance Sheet

A financial record that outlines the assets, liabilities, and owners' equity of a company at a given time.

Acknowledge the critical role of the balance sheet in evaluating a corporation's financial stance and structure of capital.

Verified Answer

Final Answer :

True

Explanation :

The accounting equation is Assets = Liabilities + Equity, which is reflected on the balance sheet where assets, liabilities, and equity are listed.

Learning Objectives

Acknowledge the critical role of the balance sheet in evaluating a corporation's financial stance and structure of capital.