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

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Business

Pretty Lady

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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Alfredo Odom · Answer 1

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.