The Barkley Company's balance sheet shows: what the business owns,minus what the business owes,equals the book value or,net worth)of the business.

Question

Quizplus · Accepted Answer

The statement is true. The balance sheet of a business shows the assets (what the business owns), liabilities (what the business owes), and equity (net worth) of the business. The formula for equity is assets minus liabilities, which represents the book value or net worth of the business.

The Barkley Company's Balance Sheet Shows: What the Business Owns,minus