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Balance sheet

society Maturity 11-13

A balance sheet is a list. It shows what a group owns. It also shows what they owe. It helps us see if they have enough. This list is like a quick photo. Can you imagine making a list like this?

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Liability (financial accounting)
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Financial statement Liability (financial accounting) Equity (finance) Double-entry bookkeeping
📚 Content adapted from Wikipedia | Readability: FK 17.0 | Vital Level 5