question 2 (1 point)\nwhat is a balance sheet?\nthe process of managing your money to achieve personal…

question 2 (1 point)\nwhat is a balance sheet?\nthe process of managing your money to achieve personal economic satisfaction.\na formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends future financial activities.\na financial statement that reports what an individual or a family owns and owes; also called a net worth statement or statement of financial position. it is a snapshot taken of your financial position on one day out of the year.\na spending plan to help you live within your income, spend your money wisely, reach your financial goals, prepare for financial emergencies, and develop wise financial management habits.

question 2 (1 point)\nwhat is a balance sheet?\nthe process of managing your money to achieve personal economic satisfaction.\na formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends future financial activities.\na financial statement that reports what an individual or a family owns and owes; also called a net worth statement or statement of financial position. it is a snapshot taken of your financial position on one day out of the year.\na spending plan to help you live within your income, spend your money wisely, reach your financial goals, prepare for financial emergencies, and develop wise financial management habits.

Answer

Brief Explanations:

A balance - sheet is a financial statement showing assets (what is owned) and liabilities (what is owed) of an individual, family or organization at a specific point in time. It's also known as a net worth statement or statement of financial position.

Answer:

A financial statement that reports what an individual or a family owns and owes; also called a net worth statement or statement of financial position. It is a snapshot taken of your financial position on one day out of the year.