assets, liabilities and equity Flashcards

1
Q

examples of assets

A

cash, cash at bank, inventory, purchase, receivables, equipment, building

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2
Q

examples of liabilities

A

payables, loans, wages

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3
Q

examples of equity

A

capital, dividends, retained earnings, profits, sales

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4
Q

DEADCLIC=

A

debit, expenses, assets,debtor,credit, liability, income, creditors

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5
Q

if these increase it equals a debit

A

expenses, assets and debtors(receivables)

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