Examlex
What is the Twenty Statements Test (TST)and what is it used to measure?
Total Assets
The sum of all current and non-current assets owned by a company, reflecting its overall value.
Supplies
Items used in the daily operations of a business, such as office or cleaning supplies, that are essential but not directly tied to the production of goods.
Cash
A company's liquid assets that are available for immediate use for transactions, including currency and demand deposits.
Basic Accounting Equation
Assets = Liabilities + Owner’s Equity.
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