Which of the following would you NOT expect to see on a balance sheet?Group of answer choicesLiabilitiesCapitalExpensesCash

Break Down the Problem

1. Identify the components typically found on a balance sheet.
2. Compare the provided choices against the characteristics of a balance sheet.

Relevant Concepts

A balance sheet consists of three main components:

• Assets: Resources owned by a company.
• Liabilities: Obligations owed to outside parties.
• Equity (Capital): The owner’s claim after liabilities are subtracted from assets.

Analysis and Detail

• Liabilities: These are indeed found on the balance sheet as they represent what the company owes.
• Capital: This is also included in a balance sheet as it reflects the owner’s equity.
• Expenses: These are usually reported on the income statement, not the balance sheet. They represent costs incurred during a period, affecting net income rather than the financial position at a specific date.
• Cash: Cash is classified as an asset and is certainly included in the balance sheet.

Verify and Summarize

Upon reviewing the provided options, we conclude that "Expenses" is the only item that would NOT be expected on a balance sheet.

Final Answer

The correct answer is Expenses.