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4 years ago

1) A balance sheet includes all of the following except

Business

2 answers:

alukav5142 [94]4 years ago

7 0

Answer:

1. Depreciation

2. True

3. Perishability

Explanation:

1. A balance sheet contains three elements:

Assets

Liability

Equity.

So the depreciation is not part of it. However, in arriving at the book value of an asset, depreciation is normally considered. But it does not form part of the three element of balance sheet on its own.

2. Businesses have statutory responsibilities to report their financial statements to the Internal Revenue Service (IRS) each fiscal year in order to be assessed to tax for each tax year. So the answer is true.

3. Perishability is the loss a company experiences when goods and services goes unused. This define that the unused goods and services deteriorates in value as they are not consumed. So perishability is correct.

nika2105 [10]4 years ago

5 0

1. a balance sheet includes all except depreciation.

2. business do have to report their financial statements to the irs so this is true.

3. the loss that a company experiences when a service goes unused is a liability.

hope this helps ☺

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