All About ABM

It is the process of recording, analyzing, interpreting, and communicating financial information about an individual, organization, or business entity.

It is a financial statement that provides a snapshot of a company's financial position at a specific point in time.

• ABACUS

• GOOGLE SHEET

• BALANCE SHEET

• JOURNAL

Assets are the resources owned or controlled by a company that have economic value and are expected to provide future benefits.

• True

• False

These are the obligations or debts of a company that arise from past transactions or events and require the company to transfer economic resources in the future.

Refers to the ownership interest or the residual claim on the assets of an individual, company, or organization after deducting liabilities.

It represents the revenue generated by a company through the sale of its products or services to customers.

It is a book or document where business transactions are initially written down, including the date, accounts affected, and the amounts debited or credited.

• Diaries

• Journal

• Dictionary

A ledger is a book or computerized record that contains all the accounts and their respective balances.

• True

• False

It refers to the cost or income associated with borrowing or lending money, or the return on an investment.It is typically expressed as a percentage of the principal amount or the invested funds and is calculated over a specific period of time.

• Interest

• Sales

• Price

• Lending

It is the total amount of sales revenue generated by a company after deducting any returns, allowances, or discounts. It represents the actual revenue earned by a company from its primary operations.

• Net Sales

• Net Investment

• Sales

• Network