A balance sheet is described as an accounting tool that lists assets and:

1. A balance sheet has two sides. 2. Banks are analysed using a balance sheet. 3. A balance sheet is an accounting tool that lists assets and liabilities. 4. The difference between them is the net worth. _Source: OpenStax Principles of Macroeconomics for AP Courses 2e (CC BY 4.0), Ch 13 'Money and Banking'_