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100
What is the accounting equation
What is Assets= Liability + Owner's Equity
100
Money that is owed
What is Accounts payable
100
Represents the owners' residual interest in the assets of the business.
What is Owners' Equity
200
An expanded expression of the accounting equation.
What is balance sheet
200
Written promises to pay stated sums of money at future dates.
What is Notes payable
200
Net Asset
What is another name for owners equity
300
Cash, inventory, and equipment are examples of
What is assets
300
sacrifices of economic benefits which arise as the result of past transactions or events.
What is Liabilities
300
are inflows of assets in exchange for providing goods and services to customers.
What is Revenues
400
Valuable resources
What is assets
400
are promises by a customer or client to pay cash in the future.
What is Accounts receivable
500
Money owed to the company
What is accounts receivable
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