Examlex
Who is responsible for doing the initial count?
Capital Account
A capital account is a financial statement that shows the changes in a company’s assets, liabilities, and equity, or an individual part of a nation's balance of payments reflecting net change in ownership of national assets.
Owner's Equity
The residual interest in the assets of a business after all liabilities are deducted.
Liabilities
The sum of all debts and financial commitments a company owes to external parties, appearing on the company's balance sheet.
Normal Balances
The side (debit or credit) on which increases to the account are recorded, depending on the account type.
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