More on Balance Sheets
This video introduces balance sheets. A balance sheet statement is an account of the value of assets, liabilities, and net worth of a company. It records these values on a certain date, and as such, it is a snapshot of a company's financial position at a single point in time. Assets are things that a company owns, while liabilities are things that a company owes. Assets minus liabilities results in the net worth of a company.
Source: Khan Academy
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