Accounting Terms

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What is "financial records, where business transactions are entered" the definition of?
Accounts
1 of 5
What is "the set of accounts of a business" the definition of?
Ledger
2 of 5
What is an Asset?
Items owned by a business
3 of 5
What is a Liability?
Items owed by a business
4 of 5
What is the amount of the owner's stake in a business called?
Capital
5 of 5

Other cards in this set

Card 2

Front

What is "the set of accounts of a business" the definition of?

Back

Ledger

Card 3

Front

What is an Asset?

Back

Preview of the front of card 3

Card 4

Front

What is a Liability?

Back

Preview of the front of card 4

Card 5

Front

What is the amount of the owner's stake in a business called?

Back

Preview of the front of card 5

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