Publisher's Synopsis
Excerpt from The Financial Policy of Corporations, Vol. 3 of 5
All these intangible values and contingent liabilities should be expressed in the balance sheet, because they are all sig nificant in determining the true wealth value represented by the business at the time. The balance sheet is thus a summary of the property and rights actually held by the business, and those which others hold against it. For the sake of clearness, the property rights owned by the business - its assets - are grouped together on one side, and the property rights held against it - its liabilities - ou the other.
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