Bernard Has Just Learned That on the Balance Sheet, a Company's

question 56

Multiple Choice

Bernard has just learned that on the balance sheet, a company's total assets must equal the _____ plus the _____.

• A) money borrowed from others; money invested by the owners
• B) accounts receivable; accounts payable
• C) accumulated depreciation; asset value
• D) net profit; retained earnings

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Definitions:

Budget

An internal financial plan that forecasts expenses and income over a set period of time.

Strategic Financial Plan

A comprehensive evaluation and planning document that outlines an organization's financial goals and the strategies to achieve them.

Forecast

A prediction or estimate of future events or trends, often based on analysis of past and current data.

Liabilities

Debts that a firm owes to others.