Which of the following items are included on the balance sheet?

the balance sheet is a snapshot of the entity. Which of the following items are included on the balance sheet?

A.assets

B.Revemues

C.expenses

D.withdrawls

Solutions

Expert Solution

Answer is A. assets.

Explanation: Balance sheet is a financial statement of the business which presents the total assets owned by the entity at a particular point of time and the outside claims on such assets on that date. It also shows the owners claim over the assets of the company on that very day. Thus, the Balance sheet includes, the components of assets, liabilities and owner's equity.

ekkarill92 answered 1 year ago

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