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Economics and Business Term 3

This class was created by Brainscape user Emma Symmonds. Visit their profile to learn more about the creator.

By: Emma Symmonds
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Decks in this class (7)

Definition
What does revenue mean,
What does expense mean,
What is the definition of asset
7  cards
Questions
Why do businesses categorise acco...
1  cards
Listing + Desrcibing
List the 5 categories of accounts,
Describe each of the five categor...
2  cards
Explain
Explain the difference between an...,
Explain the three accounting conc...,
Explain why a business should kee...
3  cards
Another Name
What is another name for inventoreis,
What is another name for accounts...,
What is another name for accounts...
3  cards
Is it Asset (A), Liability (L), Owner’s, Equity (OE), Revenue (R), or an Expense (E).
Furniture and fittings,
Accounts payable,
Cash at the bank
34  cards
Accounting Equation
How do you find the asset value u...,
How do you find the liability val...,
How do you find the owners equity...
7  cards

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Economics and Business Term 3

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