Question: Determine whether the statement is true or false. Leverage is created when a company accumulates significant amounts of cash A balance sheet is used to

Determine whether the statement is true or false.

  1. Leverage is created when a company accumulates significant amounts of cash

  2. A balance sheet is used to evaluate the growth and profitability of a company.

  3. A companys Assets must equal the sum of its liabilities and its equity.

  4. A balance sheet is the financial statement that displays a snapshot of the company financial status at a specific point in time.

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