Balance Sheet Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Balance Sheet, written in plain English, along with examples of how it is used.
What is Balance Sheet?
(n) Balance Sheet is the monetary representation of the state of affairs of a business entity as on a particular date containing the assets owned by the entity and the liability it has towards the owners and outsiders. Balance sheet has relevance to the date on which it is prepared and changes when the date change