To determine a person's solvency,which financial document should be consulted?

Question

Quizplus · Accepted Answer

The best financial document to consult to determine a person's solvency is the balance sheet. This statement provides a snapshot of a person's financial health by showing their assets (what they own), liabilities (what they owe), and net worth (the difference between assets and liabilities). This information can help assess whether a person has enough assets to cover their debts and whether they have a positive net worth.

To Determine a Person's Solvency,which Financial Document Should Be Consulted