Examlex
Determine what signs on values of x and y would make the statement true. Assume that x and y are not 0.
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Owner's Equity
The residual interest in the assets of the entity after deducting liabilities, representing the owner's claim on the business assets.
Owner Drawings
Owner Drawings are withdrawals of business assets by the owner(s) for personal use, affecting the owner's equity account but not considered business expenses.
Revenues
The total amount of money received or expected to be received from the sale of goods or services, as well as other financial sources.
Net Income
The company's ultimate income after expenses and taxes have been taken away from total earnings.
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