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balance sheet definition - legal

n

A financial statement that indicates the value of an entityÂ’s current fiscal situation as of a specific date, consisting of a summary of the value of assets and a summary of the value of its liabilities and the ownersÂ’ equity.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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