Total assets = Total liabilities + Equity. The balance sheet is one of the key elements in the financial statements, of which the other documents are the income statement and the statement of cash flows. A statement of retained earnings may sometimes be attached.
A variable interest rate is just what it sounds like: an interest rate that varies over time. Itâs the opposite of a fixed interest rate, which remains the same over time. Variable interest rates are generally used by financial institutions to move the rates on their products up and down as the market conditions change.
Means the cost is currently X% but the interest rate is not fixed and from time to time the interest rate is likely to vary either up or down. For example, 7.9% APR (variable) means that 7.9% might be the rate today but it does not remain at this figure.