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You are driving west in your car on a clear, warm day. Up ahead, you see a dark band of ominous clouds. Soon, you drive beneath the towering bank of clouds, and things get very dark. For twenty minutes, you are pelted with rain and even some hail. You keep driving west, even though it seems a little sketchy at times. On the radio, you hear that the next county to the north is under a tornado warning. Then the sky lightens, and there is only a little rain. You notice that the temperature outside has dropped by 15°F (8°C) . What have you just driven across?
Capital Account
An account used to track the investments made into a company by its owners, plus the retained earnings of the business.
Withdrawal Account
An account used in partnership accounting to record the amounts drawn out of the business by the partners for personal use.
Relative Ease
The level of simplicity or difficulty with which a task can be completed when compared to other tasks.
Formation
The process of legally creating a company or other organization; involves registration with relevant authorities and may include drafting a constitution or by-laws.
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