Final answer:
The claim that a Balance Sheet example is on page 653 is False; balance sheet examples are illustrated in figures, not on the specified page. A balance sheet displays a company's assets, liabilities, and net worth at a specific time.
Step-by-step explanation:
The statement that an example of a Balance Sheet can be found on page 653 is False. According to the provided information, the balance sheet example for the Safe and Secure Bank is illustrated in Figure 3 and in Figure 13.5, while Figure 27.5 also provides an illustration of a hypothetical and simplified balance sheet. Therefore, the correct references for the balance sheet examples are associated with figures, not a specific page number.
By its nature, a balance sheet is a financial statement that presents a company's financial position at a specific point in time. It shows the company's assets, liabilities, and net worth or bank capital. Assets are valuable items owned by the company, while liabilities are obligations or debts owed to others.