TopicAccounts payable balance sheet or income statement quizlet.
PostedMon, Aug 19th 2019 08:23 AM
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.
A balance sheet helps individuals and business owners understand where their finances stand during a specific time period. A person reading a balance sheet can learn a lot about a business and its viability.