Examlex
Twelve-month-old Britney picks up a raisin from the table. Britney is most likely using
Debited
An accounting term describing the recording of an increase in assets or a decrease in liabilities and equity.
Liabilities
Financial obligations or debts a company owes to others, which must be settled over time through the transfer of assets, provision of services, or other economic benefits.
Dividends Distributed
The portion of a company's earnings paid out to shareholders.
Accounting Equation
The basic principle underlying accounting that asserts that Assets = Liabilities + Equity, illustrating the balance among what a company owns and owes at any point in time.
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