A personal balance sheet requires the listing of all assets and liabilities to indicate an individual's equity
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Question:
A personal balance sheet requires the listing of all assets and liabilities to indicate an individual's equity or net worth. The liabilities listed in a balance sheet would include:
Remaining balance of a personal loan | ||
Mortgage repayments | ||
Payment of school fees | ||
Contributions to a managed fund |
Related Book For
College Accounting Chapters 1-30
ISBN: 978-0077862398
14th edition
Authors: John Price, M. David Haddock, Michael Farina
Posted Date: