Asked by Andrea Rodriguez on Apr 23, 2024
Building,equipment,cash
A) accounts payable
B) assets
C) corporation
D) cost
E) economic entity assumption
F) liabilities
G) market value
H) monetary unit assumption
I) note payable
J) (paid-in) capital
K) partnership
L) proprietorship
M) retained earnings
N) stockholders' equity
Assets
Resources owned by a person or company that have economic value or can provide future benefits, such as cash, property, or investments.
Equipment
Tools, machinery, or other necessary items for a particular purpose or activity.
- Absorb the fundamental ideas of assets, liabilities, and equity in a corporate context.
Learning Objectives
- Absorb the fundamental ideas of assets, liabilities, and equity in a corporate context.