Examlex
______ are secure facilities in which inmates stay for less than 1 year.
Accounting Equation
The fundamental formula in accounting that states assets equal liabilities plus shareholders' equity, representing a company's financial position.
Owner's Equity
The total value that would accrue to a business's owners after all liabilities are subtracted from all assets; also known as shareholder's equity or net worth.
Liabilities
Economic debts or obligations a company is responsible for, which are to be paid off over time through the exchange of economic advantages.
Owner's Withdrawal
Amounts of cash or other assets that the owner takes from the company for personal use.
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