BALANCE SHEET Definition

Bookmark and Share

BALANCE SHEET is an itemized statement that lists the total assets and the total liabilities of a given business to portray its net worth at a given moment of time. The amounts shown on a balance sheet are generally the historic cost of items and not their current values.

Learn new Accounting Terms

M1 is the narrowest measure of the U.S. money supply; includes currency in circulation plus demand deposits (checking account balances).

UNIFORM COMMERCIAL CODE (UCC) is a collection of modernized, codified, and standardized laws that apply to all commercial transactions with the exception of real property. Developed under the direction of the National Conference of Commissioners on Uniform State Laws, the American Law Institute, and the American Bar Association (ABA), it first became U.S. law in 1972. Since that time, it has undergone a process of constant revision.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.