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4 Cards in this Set

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  • Back
What is an Asset?
Something of value that the business owns.
What is Owners Equity?
IT is what the owner has put into the business and the business owns back to the owner.
What is Capital?
Capital is the money he already has and puts into the business.
What is accounts payable or creditors (liability)
Accounts recievable/debtors are those people the business may sell stock on to make a profit.