{"iri":"http://lmss.sali.org/R9sokcA9oHRbgtRmCOsUCY2","id":"R9sokcA9oHRbgtRmCOsUCY2","label":"Balance","definition":"In the context of a balance sheet, \"balance\" refers to the value assigned to an asset, liability, or equity account at a specific point in time. The balance sheet itself is based on the accounting equation \"Assets = Liabilities + Equity,\" and individual balances should sum up to satisfy this equation. This is related to several legal areas (e.g., Tax Law, Bankruptcy Law).","prefLabels":[],"altLabels":[],"examples":[],"notes":[],"sources":[],"branch":{"iri":"http://lmss.sali.org/RhBgnef56iLBXYfPqWQE41","label":"Financial Concepts and Metrics"},"parents":[{"iri":"http://lmss.sali.org/ROYaKdqmAn8EdjV8wNsXdc","id":"ROYaKdqmAn8EdjV8wNsXdc","label":"Financial Indicators"}],"children":[],"relations":[],"url":"https://lmss.io/tag/R9sokcA9oHRbgtRmCOsUCY2/","source":{"repo":"sali-legal/LMSS","ref":"3f9ac0c9357b2a971582ae79ede243511d47811d","channel":"pre-release"}}