BASIC ACCOUNTING TERMS

_______ is an evidence of transaction taken place.

A person ho owes money to the business is known as _____

Liabilities are economic resources of the entity which give cash or benefit in future.

_______ is the excess of total revenue over total expanse.

Goods remaining unsold or unused in manufacturing at a particular date is known as _______.

______ is the claim of owner or proprietor.

The assets that can be seen and touched are called as ______

Excess of expenses over revenue is known as _____ .