Significant terms employed in a balance sheet
Write down the significant terms employed in a balance sheet?
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Assets-
i) Fixed assets and Current assetsii) Intangible assets and Tangible assets
Equity is a claim that can be implemented against the assets of the firm in the court. therefore equity refers to a claim detained by –
A creditor only,An owner only,Creditor and owner both.
Liability -
i) Current Liabilityii) Long term Liability
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