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Home Definitions

What is a Balance Sheet? Definition or Meaning

Posted by Bizversity

Your balance sheet is a financial statement of your company’s financial position that covers the assets and the liabilities of your business as well as the ownership equity for a specific period of time.

For example…

You may require a balance sheet if you are thinking of selling your business. It would also come in handy if you were looking to form a partnership or apply for a loan in order to fund future growth.

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