accounts

What is Drawing in Accounting In the world of accounting, certain terms may seem perplexing to those not well-versed in financial jargon. One such term that often raises eyebrows is […]

What is Capital in Accounting In accounting, capital refers to the total value of a company’s assets. This includes money that is invested, such as cash and investments, as well

What is Income in Accounting? Income is money that an individual or enterprise gets, usually in exchange for delivering a product or service or investing their capital. Income is used

What is Expense in Accounting An expense is a company’s cost of operations paid in order to generate revenue.“It takes money to make money,” as the saying goes. Generally, expenses

What are Liabilities in Accounting A liability is something that an individual or corporation owes, normally a monetary amount. Over time, liabilities are settled by transferring economic advantages such as