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Accounts Assessment

Horizontales
The final line item on an income statement which is also used in the equity section of a balance sheet
This is what is used to pay for postage and recorded on the petty cash statement
Debts which are usually paid in a year or less
This financial statement has assets, liabilities and equity
Verticales
This is used to record small business transaction usually of $100 or less
These assets a business owns cannot be physically touched
The most liquid asset a business owns
A long term home loan
These items of value can be easily converted to cash in a year or less
These items of value are usually used by a business for more than one year