accounting cycle

Front

The owner invest to the business. Options: Assets, Liabilities, Equity

Back

Equity

Front

It is a financial statement that reports the assets, liabilities, and equity of a company on a given date.

Back

Statement of Financial Position

Front

What business own? Options: Liability, Asset, Property, Net Worth

Back

Asset

Front

Assets = Liabilities +...................

Back

owners equity

Front

Examples of fixed assets in Regent School Secondary include: Building, teachers, students, school fees

Back

Building

Front

Which of the following is considered an asset? Bank Loan, Mortgage, Debit Card, Savings account

Back

Savings account

Front

Which of the following is considered a liability? Savings Account, Mortgage, Savings bond, Coin Collection

Back

Mortgage

Front

What do you call the result of operation at a given period of time if the expenses is larger than the total income?

Back

net loss

Front

It is a financial statement that reports the profit or loss of a company on a given date.

Back

Income statement

Front

is money brought into a company by its business activities

Back

Revenue /income