Examlex
_________________________________ transactions are obligations and commitments that are not required to be recorded.
Business Owner
An individual who owns and oversees the operation of a company or enterprise.
Equity
The value of an ownership interest in property, including shareholders' equity in a corporation, which represents assets minus liabilities.
Asset
Resources owned by an individual or business that have value and can be used to meet debts, commitments, or legacies.
Liability
Legal obligations or debts that a business or individual is responsible for.
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