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The Federal Reserve' s balance sheet. The Federal Reserve operates with a sizable balance sheet that includes a large number of distinct assets and liabilities. The Federal Reserve' s balance sheet contains a great deal of information about the scale and scope of its operations. A balance sheet also known as the statement of financial position tells about the assets, liabilities and equity of a business at a specific point of time. It is a snapshot of a business.
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A balance sheet is an extended form of the accounting equation. Reviews balance sheet account, reconciles and prepares associated balance sheet notes.