Question

The major sections of a company's balance sheet are?

1) Assets, liabilities, and shareholders' equity.
2) Assets, liabilities, and contributed capital.
3) Assets, liabilities, and retained earnings.

Answer 1

The major sections of a company's balance sheet are assets, liabilities, and shareholders' equity.

Step-by-step explanation:

The major sections of a company's balance sheet are assets, liabilities, and shareholders' equity. Assets are something of value that a company owns, such as cash, property, equipment, and investments. Liabilities are the debts and obligations of a company, such as loans and accounts payable. Shareholders' equity represents the ownership interest in the company, including retained earnings and contributed capital.