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Recently your boss remarked to you, "I don't know where you are coming from." Other people have expressed frustration with you over your lack of team play. You should conclude that you may be losing your expert power.
Residual Equity
The amount of equity remaining for shareholders after all liabilities have been deducted from total assets.
Owner's Equity
The assets left over in a business once liabilities are cleared, showing the equity of owners or shareholders.
Spoils
Goods that are damaged or unusable during the production process and cannot be sold to customers.
Monetary Unit Assumption
A financial accounting concept that believes transactions and events can be quantified in terms of money.
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