The balance sheet is presented with the assets equal to liabilities plus equity.When this presentation is presented side by side,it is called the account form.

Question

Quizplus · Accepted Answer

This statement is true. The account form of the balance sheet presents the assets, liabilities, and equity in a side-by-side format with assets on the left and liabilities plus equity on the right, which highlights the equality of the two sides.

The Balance Sheet Is Presented with the Assets Equal to Liabilities