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6 Cards in this Set
- Front
- Back
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assets
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Things of value that a business or a person owns.
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credit
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The borrowing capacity of an individual or company; also, a situation in which someone receives something of value now and agrees to pay for it later.
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liability
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A debt of the business.
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liquid
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Easily turned into cash.
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liquidity
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The ability to convert an asset or investment into cash quickly and easily.
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owner’s equity
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The owner’s investment in the business or the financial portion of the business that actually belongs to the owner.
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