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10 Cards in this Set
- Front
- Back
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What is an asset?
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Something that the business owns
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What is Owner's Equity?
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It is what the owner has put into the business, ie. what he owns in the business... what the business owes back to you
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What is a liability?
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It is money owed to an outside/other parties, such as banks
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What is an expence?
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It is an amount of money that is paid, and once the item is used up it needs to be paid again.
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What is revenue
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Revenue is when a company gets paid for providing a service,
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