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BALANCE SHEET: PURPOSE AND USES (GRADED)
Hello class;
The balance sheet is one of the first financial statements I turn to when reviewing a company. You can learn a lot about a company by looking at its balance sheet.
The balance sheet is also called the statement of financial position. Why is this? What is the purpose of the balance sheet?
Hello Class;
Disclosures are required to elaborate on certain items that are presented in summarized form in the financial statements. There are specific disclosure notes that are required to be present