How many of the following statements are true regarding the balance sheet? One cannot determine the true "fair market value" of a company by reviewing its balance sheet. Certain internally generated assets, such as a trademark, are not reported on a company's bal- ance sheet. A balance sheet shows only the ending balances, in a summarized format, of all "balance sheet accounts" in the accounting system as of a particular date.

a. none

b. one

c. two

d. three.

LO1