Flashcards
Accounts - what are they?
Cards in this deck (5)
- 1What is an account?hhh
- 2What are the 5 different types of the accounts?1. Assets
2. Liabilities
3. Equity
4. Revenue
5. Expense - 3What is an asset account?this is the things owed by the business (like buildings, vehicles, computers, furniture, inventories, bank, cash, account receivables)
- 4What is a Liability account?This is everything the business owes to different organisations (like mortgage, car loans, credit card, account payable etc)
- 5What is an Equity account?This is the owners investment into the company (basically money put into the business). Assets-liabilities = equity
Information
- Description
- Everything about the accounts - types, examples, explanations etc.
- Created by
- k.michalska24
- Views
- 54
- Tags
- Rating