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FINANCIAL STATEMENT ANALYSIS
Summary
The Balance Sheet is a financial statement that includes a list of assets
owned by the company in order to produce its products or supply its
services and a list of liabilities and equities (sources of capital) used by
the company to acquire those assets. During the normal course of
business, many of these accounts are constantly increasing or
decreasing. The Balance Sheet represents a snapshot of asset and
liability accounts at a specified time.
You have completed the "Balance Sheet" section of Financial Statement Analysis.
Please complete the Progress Check and then continue with the "Income Statement" section. If
you answer any questions incorrectly, please review the appropriate text.