What three elements make up a balance sheet?
A) Liabilities, expenses, and owner's equity
B) Assets, liabilities, and revenues
C) Debts, assets, and cash
D) Assets, liabilities, and owner's equity

Question

Quizplus · Accepted Answer

The three elements that make up a balance sheet are assets (what the company owns), liabilities (what the company owes), and owner's equity (the difference between assets and liabilities, representing what the owners have invested in the company). Choice D correctly identifies all three elements.

What Three Elements Make Up a Balance Sheet