Explain, in a way that is understandable to a non-accountant, the following terms: a. asset b. liability

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Explain, in a way that is understandable to a non-accountant, the following terms:

a. asset

b. liability

c. income

d. revenue

e. expense

f. equity.

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Financial Accounting An International Introduction

ISBN: 9781292102993

6th Edition

Authors: David Alexander, Christopher Nobe

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Question Posted: Apr 17, 2024 01:00 AM

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Explain, in a way that is understandable to a non-accountant, the following terms: a. asset b. liability

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a Asset An asset is something valuable that a person or a company owns or controls It can be somethi...View the full answer

Financial Accounting An International Introduction

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