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ALICE: Assets, Liabilities, Income, Capital, Expenses

Study Zone Institute May 9, 2023 Business and Accounting Basics Comments Off on ALICE: Assets, Liabilities, Income, Capital, Expenses

Studying principles of accounts can be very easy once you learn which items are Assets, Liabilities, Capital, Income and Expenses. The accounts that fall under these 5 headings are used throughout your POA course. You can even associate the ALICE accounts with action words, you OWN assets, OWE liabilities, EARN …

Assets: Owned fixed and liquid items with a debit balance

Study Zone Institute May 9, 2023 Business and Accounting Basics Comments Off on Assets: Owned fixed and liquid items with a debit balance

Assets: Owned items with a debit balance

Assets are the items owned by a business. They are non-current also known as fixed or they are current also known as liquid. Non-current or fixed assets are those tangible or non-tangible items that have long life in the business. They are classed as permanent when compared to the current …

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ALICE: Assets, Liabilities, Income, Capital, Expenses

Assets: Owned fixed and liquid items with a debit balance