Examlex
Match each term with the correct definition.
-UA
Financial Statements
The comprehensive reports that summarize a company's financial performance, position, and cash flows over a specific period.
Current Ratio
An assessment tool that determines an enterprise's capability to settle short-term due debts by dividing its immediate assets by its immediate liabilities.
Balance Sheet
A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time, offering a snapshot of its financial position.
Sales On Account
Transactions where goods or services are sold and payment is deferred to a future date, effectively allowing the buyer to purchase on credit.
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