Examlex
Mnemonic device
Balance Sheet
A financial statement that displays a company's assets, liabilities, and shareholders' equity at a specific point in time, showing the company's financial position.
Rental Income
Rental income refers to the revenue received from leasing property or other assets to tenants.
Income Statement
A financial report that shows a company's revenues, expenses, and profit or loss over a specific period of time.
Owner's Equity Statement
A financial document showing the starting balance, additions and subtractions, and the ending balance of the owner’s equity account.