Total assets are the total of the short-term and long-term assets listed on the balance sheet.
A company's assets, liabilities, and equity are balanced to create a balance sheet. Total assets are equal to total liabilities plus total equity. The aggregate of all short-term, long-term, and other assets is referred to as total assets. The sum of all current, future, and other liabilities is used to compute total liabilities. Net income, retained earnings, owner contributions, and shares of issued stock are added together to determine total equity. Even though the data on a balance sheet is typically less useful than that on an income statement, a business can nevertheless utilize it to make internal decisions.
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