Examlex
Define 'Chart of Accounts',explain why it is important,and give an example of a coding system for identifying different categories of accounts.
Credit Balance
The amount that appears on the right side of a ledger account, indicating that a liability has increased or an asset has decreased.
Debt Ratio
The debt ratio is a financial ratio that compares a company's total debt to its total assets, indicating the proportion of a company's funding that comes from debt.
Total Assets
Total assets refer to the sum of all current and non-current assets owned by a company, reflecting the total resources available for use.
Total Liabilities
Total liabilities refer to the sum of all financial obligations a company owes to outside parties, including loans, accounts payable, and mortgages.
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