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Friday, September 11, 2009

Balance sheet  



In financial accounting, a balance sheet or statement of financial position is a summary of a person's or organization's balances.Assetsliabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a snapshot of a company's financial condition.[1] Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time

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