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What is a financial statement form?

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Quick Answer

A financial statement form is a breakdown of a business' or individual's finances, which includes a balance sheet and an income statement, notes the United States Small Business Administration website. The balance sheet works as a quick overview of the finances, and the income statement portrays all income and expense accounts over time.

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Full Answer

The balance sheet on a financial statement form includes the business' assets, net worth and liabilities, states the U.S. Small Business Administration website. The income statement is the second component on a financial statement form and is also known as a profit and loss statement. The financial statement offers a view of how much money will be left over after the expenses are removed.

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