Answered

The concept of comparing assets to liabilities and owners' equity is found in which financial statement?

A. Statement of cash flows
B. Statement of owners' equity
C. Income statement
D. Asset statement
E. Balance sheet



Answer :

GinnyAnswer

Final answer:

A balance sheet summarizes a company's financial position by comparing assets to liabilities and owners' equity.


Explanation:

Assets and liabilities comparison is a fundamental concept in a balance sheet. The balance sheet summarizes a company's financial position by listing its assets, liabilities, and owners' equity. It shows that assets must equal liabilities plus owners' equity to maintain balance.


Learn more about Balance sheet concept here:

https://brainly.com/question/29310271


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