A Balance Sheet That Has the Assets Listed Above the Liabilities

question 68

Multiple Choice

A balance sheet that has the assets listed above the liabilities and equity sections is a(n) :

• A)classified form balance sheet.
• B)audited form balance sheet.
• C)report form balance sheet.
• D)account form balance sheet.

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Definitions:

Owners' Equity

The residual interest in the assets of an enterprise after deducting liabilities, representing the ownership's claim on the company's assets.

Profitability Ratios

Financial metrics used to evaluate a company's ability to generate earnings relative to its revenue, assets, equity, or other financial metrics.

Revenues

The total amount of income generated by the sale of goods or services related to the company's primary operations.

Operating Costs

Expenses associated with running a business on a daily basis, such as salaries, rent, and utilities.