Examlex
Please define the following key terms. Show Who? What? Where? When? Why Important?
-National Convention
Short Term Assets
Assets expected to be converted into cash or used within one year or one business cycle, whichever is longer.
Balance Sheet Columns
The sections in a balance sheet that typically include assets, liabilities, and shareholders' equity.
Balance Sheet
A financial summary capturing a company’s assets, obligations, and shareholders’ equity at a particular instant.
Ending Retained Earnings
The portion of net income left after dividends have been distributed to shareholders, reflected at the end of an accounting period.
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