Which statement is not true about a balancesheet?a. It provides proof that Assets 5 Liabilities 1Owners’ equity.b. It lists the current, fixed, and intangibleassets.c. It summarizes the firm’s revenues andexpenses during one accounting period.d. It gives the liabilities of the firm.e. It shows the owners’ equity in thebusiness.

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.