Answer:
The correct answer is TRUE.
Step-by-step explanation:
A balance sheet is an annual report to demonstrate the financial situation of a company.
This report shows debts, goods and services that a company owns and its net capital. Each company has certain types of accounts that will be placed in these categories (Assets, Liabilities or Capital).
For example, a customer will go in the assets column, since a customer of a company generates income, just as a supplier will go in the liabilities column because the company must pay the supplier to receive something in return.
This balance must have a heading that has the name of the company, the words "Balance Sheet" and the date of the financial statement.
Therefore, we can say that the answer is True.