Respuesta :
True, The balance sheet represents a snapshot in time, whereas the income statement reports on operations over a while.
What is a Balanced sheet?
A balance sheet is a summary of the financial positions of a person or an organization in financial accounting, regardless of whether they are a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of organization like the government or a not-for-profit entity. A balance sheet is a financial record used to convey the precise value of a business or organization, or its "book value." The balance sheet, also known as the "reporting balance," does this by outlining and totaling all of a company's assets, liabilities, and owner's equity as of a specific date.
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