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Balance Sheet
A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholders' equity at a specific point in time, offering a basis for computing rates of return and evaluating its capital structure.
Assets
Resources owned or controlled by a business or an individual that are expected to produce future economic value.
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.
Fees Earned
Income earned from providing services before receiving payment.
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