10496609
Description
Flashcards by LynnDee Romrell, updated more than 1 year ago
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Created by LynnDee Romrell
about 7 years ago
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| Question | Answer |
| Balance Sheet | a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period. |
| Asset | +Debit -Credit |
| Liabilities | -Debit +Credit |
| Equity | -Debit +Credit |
| Revenues | -Debit +Credit |
| Gains | -Debit +Credit |
| Expenses | +Debit -Credit |
| Losses | +Debit -Credit |
| Withdrawals | +Debit -Credit |
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