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6 September, 11:12

The Balance Sheet reports assets, liabilities, and stockholders' equity at a specific date. A : True B : False

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Answers (1)
  1. 6 September, 13:05
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    A. True

    Explanation:

    Balance sheet: The assets, liabilities, and equity of stockholders are recorded in the balance sheet. The accounting equation which is shown below is used

    In this:

    Total assets = Total liabilities + Stockholder equity

    The balance sheet debit and credit side should be fair, equal and balanced.

    In addition, it is always prepared on the date specified.
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