Question

Unity Quiz

Answer 1

The statement that the information from a balance sheet is helpful, although it doesn't clearly show whether someone can cover their liabilities in the short term is True.

The balance sheet is a financial statement that shows the assets and liabilities that are owned by an entity at any point in time. The balance sheet is compared against past records.

It does not have the potential to clearly show us if a company can offset its liabilities because some other important markers that can be used to calculate this are not clearly indicated in the balance sheet.

So, the statement above is true.

Learn more about the balance sheet here:

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