The balance sheet omits many items that are of financial value to the business but cannot be recorded objectively.

Name: The balance sheet omits many items that are of financial value to the business but cannot be recorded objectively.
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Question

Quizplus · Accepted Answer

The balance sheet only includes items that can be recorded objectively, such as assets, liabilities, and equity. It cannot include subjective items such as the value of a company's brand or reputation.

The Balance Sheet Omits Many Items That Are of Financial