The balance sheet reflects the assets,liabilities,and ____ at a given point in time.

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The balance sheet reflects the assets, liabilities, and owners' equity at a given point in time. Owners' equity represents the residual interest of the owners in the assets of the business after deducting its liabilities. Costs of goods sold and net income are reported on the income statement, while asset turnover is a measure of how efficiently a company uses its assets to generate revenue and is not directly reflected on the balance sheet.

The Balance Sheet Reflects the Assets,liabilities,and ____ at a Given