BALANCE SHEET


Meaning of BALANCE SHEET in English

Financial statement that describes the resources under a company's control on a specified date and indicates where they have come from.

It consists of three major sections: assets (valuable rights owned by the company), liabilities (funds provided by outside lenders and other creditors), and the owners' equity . On the balance sheet, total assets must always equal total liabilities plus total owners' equity.

Britannica English dictionary.      Английский словарь Британика.