balance sheet definition

  • noun:
    • A statement of a small business or organization that details the possessions, debts, and owners' investment as of a specified time.
    • : a directory of someone's or corporation's assets, liabilities and equity at the time of a specific date.
    • a paper showing the balances of this open records of a business, the debit and credit balances footing up similarly, if system of reports be total in addition to balances precisely taken.
    • A statement created by merchants and others to demonstrate the real condition of a certain company.
    • a record of this finances of an institution on a specific time by detailing its possessions in addition to claims against those assets

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