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Question

What is in the balance sheet?


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Solution

The balance sheet is the fiscal summary of an organization that incorporates equity capital, total debt, liabilities, equity, and so forth at a point on the schedule. Balance sheet records assets on one side, and liabilities on the other. For the accounting report to mirror the genuine picture, the two heads (liabilities and assets) should be equal to each other (Assets = Liabilities + Equity).


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