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Report is defined as a collection of information about something or rumors or gossip that is being spread. An example of report is a paper a student writes about a book. An example of report is a summary of findings provided after a committee investigates a situation.
Definition: A report form balance sheet is a balance sheet that presents asset, liability, and equity accounts in a vertical format. In financial reporting, there are two general formats for balance sheets: the account format and the report format.