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6 April, 08:42

3 main sections of the blance sheet

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Answers (2)
  1. 6 April, 08:53
    0
    3 main sections of the balance sheet are:

    Answer:

    1. ownership equity

    2. liabilities

    3. assets
  2. 6 April, 09:03
    0
    Asset, liability and equity

    Explanation:

    There are 3 main sections in balance sheets;

    1. Assets - have value because a business can use or exchange them to produce the services or products of the business. Assets mainly categorize into current and non-current.

    2. Liabilities - are the debts owed by a business, often incurred to fund its operation, it results to a possible outflow in the future. Liabiities also divided into current and non-current portion, that depends on its maturity period.

    3. Equity - represents retained earnings and funds contributed by its shareholders
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