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3272512
The Accounting Equation
Description
Accounting and Finnance
No tags specified
acct.
finnance
school
mind map
Mind Map by
amairani123
, updated more than 1 year ago
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Created by
amairani123
over 9 years ago
160
0
0
Resource summary
The Accounting Equation
Assets
Has a measurable value
Car
Jet
Boat
Laptop
House
Debtors
Owe You $$$
Expenses
Cost company incurs in effort to make money
Paid with $
Can be charged
Liabilities
A debt
Loan
Creditors
Owner's Equity
Value of Assets that owner really owns
Assets-Liabilities
Revenues
Income made by a businss
Recorded quarterly or annualy
Net Gain vs. Net Loss
Gain: Bring in more $ than spent
Loss:Bring in less $ than spent
Media attachments
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