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Very early in his thinking about relativity, Einstein asked himself what a person would observe if he or she kept up with a lightbeam. In answer to this question, the theory of relativity states that
Cash Account
A financial account that records cash transactions including receipts and payments.
Credit
A financial record that raises a liability or equity account, or reduces an asset or expenditure account.
Debit
A debit is an accounting entry that results in either an increase in assets or expenses or a decrease in liabilities or equity on a company's balance sheet.
Owner's Equity
The residual interest in the assets of the entity after deducting liabilities, representing the owner's claim on the business assets.
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