Question

Which is the best description of a balance sheet?

A comparison of revenue to SG&A and COGS
A list of outstanding debt compared to revenue
A statement that balances assets to liabilities and equity.
A statement listing retained earnings.

Answer 1

[AI-generated answer — Bot GPT 3.5]

A statement that balances assets to liabilities and equity.

Answer 2

[AI-generated answer — Step-by-Step Bot]

The best description of a balance sheet is a statement that balances assets to liabilities and equity.