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Definition: a Balance Sheet is a financial statement that provides a snapshot of a company's financial health at a specific point in time. It outlines a company's assets, liabilities, and shareholders' equity. Unlike income statements, which show a company's profitability over a period, balance sheets offer a static view of a company's financial position. |
More on accounting and auditing: Accounting Cycle, Accounts Payable, Accounts Receivable, Accrued Revenue, Amortization, more on accounting and auditing... MBA Brief provides concise yet precise definitions of organizational concepts, management methods, and business models as taught in an MBA program. We keep it short and provide links to high-quality websites where you can learn more about your topic.
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