Balance Sheet, Balloon Payment, Bankrupt, Bankruptcy

Balance Sheet, Balloon Payment, Bankrupt, Bankruptcy :



Balance Sheet : A financial statement of a company at a specific point in time : The statement contains the list of the assets such as cash, accounts receivable, inventory and equipment and liabilities such as accounts payable, loans and mortgages : The sum total of both the sides is same and so the name balance sheet.



Balloon Payment : The final payment of a loan that is paid in instalments that is relatively larger than the periodic instalments that include only interest and little or none of the principal.



Bankrupt : A person, a company or a situation in which one is legally declared to be unable to pay one’s debts. Sometimes the creditors force the company to seek involuntary bankruptcy when they petition the court to appoint a trustee for the management of the company finances and to liquidate the company, if necessary, to protect their interests.



Bankruptcy : A person, a company or a situation in which one is legally declared to be unable to pay one’s debts. Sometimes the creditors force the company to seek involuntary bankruptcy when they petition the court to appoint a trustee for the management of the company finances and to liquidate the company, if necessary, to protect their interests.



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