Reports providing financial information about a business at a given time.
A financial statement that provides information about the assets, liabilities and equity of a business at a given time.
A fundamental premise in accounting which states that a company's assets will be equal to the sum of its liabilities and its equity (Assets = Liabilities + Equity).
Physical or non-physical resources owned by an organization that have economic value.
Debts and other financial responsibilities of an organization.
The remaining value once liabilities are subtracted from assets.
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