Economic resources and debts of the company are shown on the balance sheet.

Name: Economic resources and debts of the company are shown on the balance sheet.
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Question

Quizplus · Accepted Answer

The balance sheet is a financial statement that shows a summary of a company's assets, liabilities, and equity at a given point in time. Economic resources, which are assets, and debts, which are liabilities, are both included on the balance sheet. Therefore, the statement in the question is true.

Economic Resources and Debts of the Company Are Shown on the Balance