What are the important terams use in balance sheet?

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Accepted Answer

Important terms used in a balance sheet include assets, liabilities, equity, current assets, current liabilities, long-term liabilities, and retained earnings.

Assets: Resources owned by a company that have economic value, such as cash, inventory, and property.
Liabilities: Debts or obligations owed by a company, such as loans and accounts payable.
Equity: The residual interest in the assets of a company after deducting liabilities.
Current Assets: Assets that are expected to be converted into cash or used up within one year, such as accounts receivable and inventory.
Current Liabilities: Obligations that are due within one year, such as short-term loans and accounts payable.
Long-term Liabilities: Debts or obligations that are due beyond one year, such as long-term loans and bonds.
Retained Earnings: The portion of a company's profits that is reinvested in the business rather than distributed to shareholders.

Accepted Answer

What are the important terms use in balance sheet

What are the important terams use in balance sheet?

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