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4
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The amount of money you owe creditors (suppliers, etc.) in return for good and/or services they have delivered.
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7
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The percentage amount of stock a person has ownership interest in the company. The owners of the stock are commonly referred to as the shareholders
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8
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A company's debts or financial obligations it incurred during business operations
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9
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the amounts received by or due a company for goods or services it provides to customers. Receipts are cash revenues.
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10
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A systematic way of recording and reporting financial transactions
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11
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financial statement that reports a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating
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12
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A financial report that summarizes a company's assets (what it owns), liabilities (what it owes) and owner’s equity at a given time.
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13
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A company's total earnings that are calculated by subtracting totally expenses from total revenues.
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1
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a term for a set of financial records that use double-entry bookkeeping. This describes the appearance of the bookkeeping entries.
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2
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Typically this could be cash, inventory or accounts receivable. Anything a business owns that has a cash value is listed as this.
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3
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An accounting entry where there is either an increase in assets or a decrease in liabilities on a company's balance sheet and is recorded on the left side of a T-Account.
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4
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The amount of money owed by your customers after goods or services have been delivered and/or used.
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5
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The fixed, variable, accrued or day-to-day costs that a business may incur through its operations. Examples include payments to banks, suppliers, employees or equipment.
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6
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An accounting entry that may either decrease assets or increase liabilities and equity on the company's balance sheet, depending on the transaction and is recorded on the right side of a T-Account.
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