Fabm

Assets

Resources which are controlled and owned by the business

Equity

Derived from deducting totalliabilities to the total assets of a company

Liabilities

pertains to the obligations that the business owed to the other equities

Assets= Liabilities+Equity

Correct formula of accounting

Statement of Financial Income

Financial statements that presents the financial position of an entity

Liabilities

In what part does the Salaries Payable be listed?

Account Form

Form in the Statement of Financial Position that is represented in horizontal format

Report form

Form in the Statement of Financial Position that is represented in vertical format