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What is a balance sheet? how much a company is worth, what revenue and expenses a...

What is a balance sheet?

how much a company is worth, what revenue and expenses a company has, a summary of cash activity over a period of time, what a business owns or none of above?

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Answer #1

the balance sheet is one of the three financial statements:

The income statement shows the revenue and expenses of the company.

The cash flow statement shows the summary of cash activity.

The balance sheet shows the financial position of a business at a particular point of time. It shows the position of the assets, liabilities and equity and it describes the firm's worth at any one point in time. It shows how much a company owns (assets) and how much it owes (liabilities).

So, the correct option is option 1.  

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