Both Uses of
balance sheet
in
Atlas Shrugged
- But on the balance sheets of Taggart Transcontinental, the checks of Jim's subsidies for empty trains bore larger figures than the profit brought by the best freight train of the busiest industrial division.†
Chpt 2.1 *balance sheets = financial reports summarizing the value of financial assets minus liabilities
- Just look at my balance sheet-and then look at the books of a certain competitor of mine, who's got all the customers, all the raw materials, all the technical advantages and a monopoly on secret formulas-then tell me who's the profiteer!†
Chpt 2.6balance sheet = a financial report summarizing the value of financial assets minus liabilities
Definition:
a financial report summarizing the value of financial assets minus liabilities at a given time
(assets are things of value and liabilities are essentially money owed)
(assets are things of value and liabilities are essentially money owed)
Called a balance sheet because assets must equal (or balance with) liabilities plus equity.