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10 Cards in this Set
- Front
- Back
Property
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anything of value that is owned or controlled
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property rights
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Creditors' and owners' financial claims to the assets of a business
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financial claims
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legal rights to an item
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credit
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buy and get now, and agree to pay later
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creditor
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business or person selling you the property on credit
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assets
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property or items of value owned by a business
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equity
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accounting term for the financial claims of assets
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investments
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assets owned by a business but nor used in the operation of that business
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owner's equity
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owner's claim to the assets of the business
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liabilities
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creditor's claims to the assets of the business. Debts of a business.
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