The balance sheet is made up of what five key components:
A) fixed assets, current liabilities, long term debt, tangible current assets and shareholders' equity.
B) intangible fixed assets, current liabilities, long term debt, net income and current assets.
C) fixed assets, long term debt, current assets, current liabilities and shareholders' equity.
D) current assets, fixed assets, long term debt, shareholders equity and retained earnings.

Question

Quizplus · Accepted Answer

The balance sheet is composed of five key components: fixed assets, long-term debt, current assets, current liabilities, and shareholders' equity. These elements reflect the company's financial position by detailing its assets, liabilities, and owners' equity at a specific point in time.

The Balance Sheet Is Made Up of What Five Key