Question

The finance balance sheet is:

a. the same as the accounting balance sheet, but it is based on market values.
b. the same as the accounting balance sheet, but it does not have to balance.
c. based on cash rather than accrual accounting.
d. the same as the accounting balance sheet, but it is based on historical values.

Answer 1

The same as accounting balance sheet, but it is based on market values.

Step-by-step explanation:

A balance sheet is a financial statement that shows the financial status of an organization as of a certain period of time. The statement shows what an organization owns which is known as assets and how much debt the organization owes (liabilities). It also shows the amount that have been invested in the business (equity).

Liabilities and net worth that is found on the balance sheet represent the organization source of income. Liabilities and net worth are made up of creditors and investors who have once provided cash to the organization in the past. Being a source of income, they enable the organization to continue to stay in business or expand operations to different areas.

Answer 2

a. the same as the accounting balance sheet, but it is based on market values.

Step-by-step explanation:

A balance sheet is a financial statement that is often termed a "snapshot" of the assets, liabilities and owner's equity of a company at a particular moment in time