balance sheet
Definition
A quantitative summary of a company's financial condition at a specific point in time, including assets, liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns, and the second part shows all the financing methods (such as liabilities and shareholders' equity). also called statement of condition.
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Related Terms
accounting equation, accounts receivable, book value, annual report, asset, current assets, current liabilities, financial statement, financial structure, goodwill, long-term assets, pro forma
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