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Some day, on the corporate balance sheet, there will be an entry which reads, ‘information’; for in most cases, the information is more valuable than the hardware which processes it. Grace Murray Hopper, Inventor of COBOL (1906–92) |
Now that you know about an income statement let’s learn about a balance sheet. This, along with the income statement, are the two most common financial statements prepared from the accounting records of an organisation.
What is a balance sheet?
A balance sheet is simply a list of the assets, liabilities and capital ...
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