[amp_mcq option1=”appreciated earnings” option2=”liabilities” option3=”assets” option4=”stocks earnings” correct=”option3″]<\/p>\n
The correct answer is C. assets<\/strong>.<\/p>\n A balance sheet is a financial statement that reports a company’s assets, liabilities, and equity at a specific point in time. The left side of the balance sheet, called the asset side, lists the company’s resources, such as cash, inventory, and property. The right side of the balance sheet, called the liability and equity side, lists the company’s obligations, such as accounts payable and debt, and the owner’s investment in the company.<\/p>\n Assets are resources that a company owns and expects to benefit from in the future. Assets can be classified as current assets, which are expected to be converted into cash or used up within one year, or long-term assets, which are expected to be used up over a period of more than one year.<\/p>\n Liabilities are obligations that a company owes to others. Liabilities can be classified as current liabilities, which are due within one year, or long-term liabilities, which are due after one year.<\/p>\n Equity is the owner’s investment in the company. Equity is equal to the difference between the company’s assets and its liabilities.<\/p>\n In conclusion, the left side of a balance sheet states the company’s assets.<\/p>\n","protected":false},"excerpt":{"rendered":" [amp_mcq option1=”appreciated earnings” option2=”liabilities” option3=”assets” option4=”stocks earnings” correct=”option3″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[945],"tags":[],"class_list":["post-46238","post","type-post","status-publish","format-standard","hentry","category-financial-management","no-featured-image-padding"],"yoast_head":"\n