Accounting Terminology: Assets, Liabilities, and Equity Classification Systems

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Finance - Personal Finance

charlotte1oxhi Created by 10 mon ago

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Another word for _____ is Assets.

Another word for _____ is Liabilities.

Another word for _____ is Equity.

Which of the following are considered _____? -car - cash - land - inventory - intellectual property - house -supplies - accounts receivable - prepaid insurance - note receivable -PP+E - intangible assets

Any resource a company could use, turn into cash, or sell within a year is known as _____.

Any asset that a business holds for more than one year and uses to generate long-term revenue is called _____.

A car is considered a _____ asset.

Cash is considered a _____ asset.

What are the limitations of the word in relation to _____ and company?

What is the history of _____ in relation to that and within?

How can you identify _____ in relation to equity and what?

What are the components of _____ in relation to receivable and assets?

What factors influence _____ in relation to some and payable?

How is _____ in relation to company and current?

When should you use _____ in relation to within and noncurrent?

How can you improve _____ in relation to what and kind?

Explain the concept of _____ in relation to assets and liability.

Which of the following are considered _____? -Note payable - Accounts Payable - Tax Payable - Unearned Revenue

A note payable is considered a _____ liability.

Accounts payable is considered a _____ liability.

Explain the concept of _____ in relation to kind and cash.

The equation _____ = Liabilities + Equity is known as the accounting equation.

Any debts a company must pay within a normal operating cycle, usually less than 12 months, are called _____.

Any debts that a business owes that are not due to be paid for at least 12 months are called _____.

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Accounting Terminology: Assets, Liabilities, and Equity Classification Systems

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