A balance sheet can be expressed as:
a. profit = sales - reductions.
b. net worth = operating profit - operating expenses.
c. net worth = assets - expenses.
d. assets = liabilities + net worth.
e. assets = sales - expenses.
Answer: D
a. profit = sales - reductions.
b. net worth = operating profit - operating expenses.
c. net worth = assets - expenses.
d. assets = liabilities + net worth.
e. assets = sales - expenses.
Answer: D