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A balance sheet is simply reflects the financial position of any firm or business on a particular day/date. The agenda of preparing a Balance Sheet is to understand at what level firm or business is operating. It further indicates the strength or worth of business to evaluate or compare its performance with industry leaders. An accurate format of balance sheet helps manager to product transparent results without incurring any error. The fundamental assessment of any business is always depict from Balance Sheet and that is the sole reason, a balance sheet format or template is very popular.
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