Instructions: Identify the Following

question 96

Short Answer

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Emancipation Proclamation

---

Definitions:

Liabilities

Financial obligations or debts a company owes to others, such as loans, accounts payable, and mortgages.

Assets

Resources owned by a company that have economic value and are expected to provide future benefits.

Revenues

The total amount of money earned by a company from its normal business activities, typically from the sale of goods and services to customers.

Trial Balance

A financial worksheet where all ledger balances are totaled into debit and credit columns which balance equally.