Question

The balance sheet reports what?

Answer 1

Answer:

balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure

Explanation:

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Answer 2

Answer:

A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity. ... The balance sheet is a snapshot, representing the state of a company's finances (what it owns and owes) as of the date of publication.

Explanation: