FBLA Intro to Financial Math

The excess of a company's assets over its liabilities

Property owned by a person or company, regarded as having value and available to meet debts, commitments, or legacies

An amount of money or property left to someone in a will

Something pledged as security for repayment of a loan, a to be forfeited in the event of a default

an individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.

a person legally entitled to the property or rank of another on that person's death.

a person or institution appointed by a testator to carry out the terms of their will.

All incomes and gains. An entry which is passed when there is a decrease in assets or an increase in liabilities and owners equity. If referring to a personal account credit is the giver. In the real account it's what goes out. In a nominal account it is all incomes and gains. (Right) increase in credit is due to rise in share holders fund, membership fees, rental income, retained earnings, account payable, etc.

All expenses and losses. An entry which is passed when there is an increase in asset or decrease in liabilities and owners equity. (Left) if on personal account it's the receiver. On a real account it's what comes in. On a nominal account it's all expenses and losses. It's increase in debit is due to rise in cash, inventory, plant and machinery, land and building,expenses like salary, insurance, tax,dividend,etc.

Tags

CCSS.HSA.SSE.A.1

cash and other assets that are expected to be converted to cash within a year.