The main function of a balance sheet is to show your net worth at a point in time.

Question

Quizplus · Accepted Answer

A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time. It helps to evaluate the financial position of a company and calculate its net worth, which is the difference between assets and liabilities. Therefore, the main function of a balance sheet is to show the net worth or equity of a company.

The Main Function of a Balance Sheet Is to Show