accounting quiz

assets
- everything company owns that has value.
- ex. cash, accounts rec, land
Liabilities
- Obligation. creditors. rights to assets. anything company ownes
- ex.accounts payable
stockholders equity
- owners rigts to the assets of the bussiess.
- ex. common stok, retained earnings
Revenue
- increase in stockholders equity as a result of business operation.
- ex. sales
expenses
- decrease in stockholders equity as a result of business operation.
- ex. rent expence
dividends
- decrease in stockholders equity as a result of returing some profits back to owners.
- ex. dividends

Author

peyton1234

234362

Card Set

accounting quiz

Description

6 classes

Updated

2013-09-12T01:37:10Z

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