Balance Sheet

Balance Sheet

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A summary of the Assets, Liabilities, and Equity for the business at a certain point in time - it gives a financial snapshot for the given moment.

The left side of the Company Board (and of the Income/Outcome business simulation game board) is a Balance Sheet. See also Income Statement.

The Total Asset Balance Sheet used in North America shows the assets (what you have in the business) and balances that amount against the total of liabilities and equity (which is where the assets came from). In other words, everything you have in the business comes from investing (Capital Stock), making money (Retained Earnings), or borrowing from sources such as banks (Loans) and suppliers (Creditors).

See also Net Asset Balance Sheet.

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