Card Set Information
Decrease in owner's equity (capital) resulting from the cost of goods, fixed assets, and services and supplies consumed in the operations of a business.
The gross increase in owner's equity (capital) resulting from the operations and other activities of the business.
Owner's Equity also called Owner's Capital
The owner's rights to the property (assets) of the business; also called proprietorship and net worth
Claims by creditors to the property (assets) of a business until they are paid.
The properties used in the operation or investment activities of a business.