FBLA Accounting Prep

0.0(0)
Studied by 0 people
call kaiCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/4

encourage image

There's no tags or description

Looks like no tags are added yet.

Last updated 3:05 AM on 6/7/26
Name
Mastery
Learn
Test
Matching
Spaced
Call with Kai

No analytics yet

Send a link to your students to track their progress

5 Terms

1
New cards

Accounting Equation

Fundamental formula that establishes a relationship between assets, liabilities, and equity. A= L+E

2
New cards

Assets

Resources that the business owns and use to operate and generate profit. Examples include cash, inventory, and equipment

3
New cards

Liabilities

Resources that a business owes to third parties or a financial obligation that needs to be paid back.

4
New cards

Equity

Ownership’s claim of the net assets of a business. Remains after you subtract liabilities from assets.

5
New cards