The balance sheet reports information on a firms (1) assets, (2) debt, and (3) equity. What is

Question:

The reports information on a firm’s (1) assets, (2) debt, and (3) equity. What is included in each of these reported categories?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...