BALANCE SHEET

Balance Sheet

Balance Sheet

Q1. Which accounts did you choose for your company and why?

We choosed Balance Sheet as it reflects the accurate position of a business at a given point of time.

Q2. Why is the balance sheet important to a business? Explain.

The balance sheet is one of the most important statements in a company's accounts. It shows what assets and liabilities a company has, and how the business is funded (by shareholders and by debt: the financial structure of the company). Book values are usually historical cost or fair value.

The balance sheet provides information that is useful when assessing the financial ...