Financial Glossary
Balance Sheet
What is a Balance Sheet?
A balance sheet is a financial statement that shows a company’s assets, liabilities, and equity at a specific point in time. It provides a snapshot of financial health.
What Are the Three Sections of a Balance Sheet?
- Assets – What the company owns (cash, property, inventory).
- Liabilities – What the company owes (loans, accounts payable).
- Equity – The company’s net worth (assets minus liabilities).
📌 Related: Income Statement | Accounts Payable
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