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What do we understand by the balance sheet? Why does the balance sheet show the...

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Accounting

What do we understand by the balance sheet? Why does the balance sheet show the financial situation of a business? Why does the balance sheet only present the financial position of a business on a certain date? Why are various creditors interested in knowing the financial situation of the business? In what ways can the balance sheet be presented and are they adequate? What do we understand by exercise?

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