A balance sheet represents the assets,liabilities,and shareholders' equity of a company at a given point in time.

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This statement is true. A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time, showing what it owns (assets), what it owes (liabilities), and the value of the shareholders' investment (shareholders' equity).

A Balance Sheet Represents the Assets,liabilities,and Shareholders' Equity of a Company