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A balance sheet also known as a financial snapshot which indicates the statement of financial position revealing the assets, liabilities and net worth of a company. It is important that a financial person should know the financial statements of the business he or she is working with. The balance sheet is measured in terms of its assets and liabilities and following are the things you need to check in your company’s financial balance sheet: 1. Assets 2. Current assets. 3. Fixed assets. 4. Total assets. 5. Liabilities and owners’ equity. 6. Total liabilities and owners’ equity.
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