A formal report of changes that occurred in the owner’s financial interest during a reporting period
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An inflow of money or other assets that results from the sal…
An inflow of money or other assets that results from the sales of goods or services or from the use of money or property; also called income
The current worth of an asset or the price the asset would b…
The current worth of an asset or the price the asset would bring if sold on the open market
Financial investment in a business; equity
Financial investment in a business; equity
An outflow of cash, use of other assets, or incurring of a l…
An outflow of cash, use of other assets, or incurring of a liability
Property owned by a business
Property owned by a business
An arrangement to allow payment at a later date; also called…
An arrangement to allow payment at a later date; also called a charge account or open-account credit
A formal report of business operations covering a specific p…
A formal report of business operations covering a specific period of time; also called a profit and loss statement or a statement of income and expenses
Debts or obligations of a business
Debts or obligations of a business
Claims for future collection from customers
Claims for future collection from customers