Types of assets, liabilities, expenses and revenue Flashcards
1
Q
What are the different types of liabilities
A
- Mortgage
- Accounts payable
2
Q
What are all the different types of assets?
A
- Cash at bank
- Stock
- Furniture
-Vehicles - Land
- Buildings
- account receivable
3
Q
What are the types of owner’s equity?
A
- Capital
- Net profit
- Drawings (take away from the capital when making a balance sheet)
4
Q
What are the different types of Revenues?
A
- Sales
- Commision Revenue
5
Q
What are the different types of Expenses?
A
- Electricity
- Delivery
- Wages
- Insurance
- Advertisements
- Stationary
