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Classified Alance Sheet Includes Shows The Position Of Company Quizlet Reports Usinesss Financial Lists Course Hero

Worksheet Details

  • CategoryBalance Sheet.
  • TopicDoes a balance sheet include net income.
  • AuthorRachel Foy
  • PostedSat, Aug 10th 2019 11:46 AM
  • Formatjpg/jpeg

If you’re running a business and looking for potential investors, or you’re an individual readying to approach lenders, you will be asked for a copy of financial statements. For businesses, the finances to be reviewed are the balance sheet, income statement, statement of retained earnings, and statement of cash flows. An individual will have similar information that can be used on a balance sheet, but it is primarily used to give an overview of investments and assets.

For the purposes of the balance sheet, the assets are the total of everything your business has are valued by the business. This might be something that’s in the form of real property, such as an office building with a parking garage. It could also be stocks, bonds, or working capital such as heavy machinery and equipment. Some businesses will even include their unsold inventory in this section.

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