assets, liabilities and equity Flashcards
1
Q
examples of assets
A
cash, cash at bank, inventory, purchase, receivables, equipment, building
2
Q
examples of liabilities
A
payables, loans, wages
3
Q
examples of equity
A
capital, dividends, retained earnings, profits, sales
4
Q
DEADCLIC=
A
debit, expenses, assets,debtor,credit, liability, income, creditors
5
Q
if these increase it equals a debit
A
expenses, assets and debtors(receivables)