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Five Basic Elements of Accounting by Shemika Daham is a document available to read on EtoBox.

There are five basic elements in accounting: assets, liabilities, capital/equity, income/revenue, and expenses. Assets are items of economic value owned by a company, such as tangible assets like equipment or intangible assets like patents. Liabilities are amounts owed by a company, including both current liabilities due within a year and long-term liabilities due after one year. Capital/equity represents the portion of total assets owned by shareholders. Income/revenue is the total amount generated from a

Author

Shemika Daham

Language

EN