Question

Your boss asks you to email a spreadsheet that shows what the company owns and what it has borrowed (owes) at a fixed point in time and shows the net worth of the business. When sending the email, you MOST LIKELY will attach the file named ________.

Answer 1

Answer: balance sheet

Step-by-step explanation: In simple words, balance sheet refers to the financial statement that is prepared by the organisation to depict its market position at a specific point of time, generally at the end of the year.

In balance sheet, the accountant shows the amount of assets that a company owns at that point of time, and the liabilities and capital in the business.

In the given case, the boss wants us to show how much a company owns and owes at a fixed point. Hence we can depict that by using balance sheet.

Answer 2

The balance sheet represents the total assets of the company and how they are funded, whether through equity or by debts.

Step-by-step explanation:

Balanced sheet

A balance sheet is an annual report of finance that accounts at a particular time on the funds, debts or on equity of any corporation and lays the foundation of calculations for calculating return rates and determining its financial performance of the company.

The balance sheet represents the total assets of the company and how they are funded, whether through equity or by debts.