Asked by tabatha nieves on Jun 05, 2024
Verified
The balance sheet contains:
A) Liabilities, Expenses and capital.
B) Assets, Liabilities and Revenues.
C) Expenses, Assets and cash.
D) None of the above is correct.
Balance Sheet
A delineation of a company's financial status including assets, liabilities, and shareholders' equity at an exact point in time.
Liabilities
Sums of money or other financial obligations that a company is required to pay in the future to creditors, lenders, or suppliers.
Assets
Economic resources owned or controlled by a business, expected to provide future benefits.
- Identify components of the balance sheet (Assets, Liabilities, Owner's Equity).
Verified Answer
GZ
Genesis ZhunioJun 08, 2024
Final Answer :
D
Explanation :
The balance sheet contains assets, liabilities, and shareholders' equity, not the combinations listed in options A, B, or C.
Learning Objectives
- Identify components of the balance sheet (Assets, Liabilities, Owner's Equity).