A ________ is a summary of the assets and liabilities of a small business.

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A balance sheet is a financial statement that summarizes a company's assets, liabilities, and shareholder equity at a specific point in time. It provides a snapshot of a company's financial position and is an essential tool for analyzing a small business's finances. Pro forma is a financial statement that projects future financial performance based on certain assumptions and may not reflect the current financial position of the business. Current asset is a type of asset that can be easily converted into cash within a year. Cash flow is a financial statement that tracks the flow of cash in and out of a business over a period.

A ________ Is a Summary of the Assets and Liabilities