What Are The Important Terms Used In Balance Sheet ?

1.	What Are The Important Terms Used In Balance Sheet ?
Answer» Assets Current assets and fixed assets TANGIBLE assets and INTANGIBLE assets Equity is a claim which can be ENFORCED against the assets of the firm in the court. Thus equity refers to a claim held by An OWNER only, A creditor only, An owner and the creditor both. Liability Current Liability Long term Liability or fixed Liabilities CONTINGENT Liabilities

Answer»

Assets
Current assets and fixed assets
TANGIBLE assets and INTANGIBLE assets
Equity is a claim which can be ENFORCED against the assets of the firm in the court. Thus equity refers to a claim held by
An OWNER only,
A creditor only,
An owner and the creditor both.
Liability
Current Liability
Long term Liability or fixed Liabilities
CONTINGENT Liabilities

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