Examlex
Why must the balance-of-payments record always be in balance? What does a balanced record signify?
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time.
Revenue
The total amount of money earned by a business from its operational activities, before any expenses are subtracted.
Equipment Account
An account on a company's balance sheet that reports the value of the equipment that the company owns.
Beginning Balance
The amount of money in an account at the start of a new accounting period.
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