Accounting Perspectives
A=L+OE - correct answerassets= liabilities + owners equity
accounting - correct answera systematic process of identifying, measuring, recording,
summarizing, analyzing, and interpreting the financial transactions of an entity in order
to provide relevant information to internal and external decision makers.
assets - correct answera useful or valuable thing, person, or quality.
balance sheet - correct answerreport everything you own (assets) and debts you have
cash flow statement - correct answerwhere does the cash come from, where does the
cash go
copyright - correct answera legal right to something
date "aloe" was documented - correct answer1492
financial statement - correct answershows a company is worth investing money
income statement - correct answerstatement that shows how much money you made
IPO - correct answer(Initial public offering) first time the company becomes public to
trade/ share stocks
liability - correct answera thing for which someone is responsible, especially a debt or
financial obligation.
owners equity - correct answerhow much you pay to decrease the liability amount (what
you own)
period the "aloe" was documented - correct answerrenaissance period
transaction - correct answeran exchange of value between 2 or more parties where
each must get something and each must give something.
who documented "aloe" - correct answerLuca Pacioli
why did Luca like the equation? - correct answerit was simple, elegant, and symmetric
A=L+OE - correct answerassets= liabilities + owners equity
accounting - correct answera systematic process of identifying, measuring, recording,
summarizing, analyzing, and interpreting the financial transactions of an entity in order
to provide relevant information to internal and external decision makers.
assets - correct answera useful or valuable thing, person, or quality.
balance sheet - correct answerreport everything you own (assets) and debts you have
cash flow statement - correct answerwhere does the cash come from, where does the
cash go
copyright - correct answera legal right to something
date "aloe" was documented - correct answer1492
financial statement - correct answershows a company is worth investing money
income statement - correct answerstatement that shows how much money you made
IPO - correct answer(Initial public offering) first time the company becomes public to
trade/ share stocks
liability - correct answera thing for which someone is responsible, especially a debt or
financial obligation.
owners equity - correct answerhow much you pay to decrease the liability amount (what
you own)
period the "aloe" was documented - correct answerrenaissance period
transaction - correct answeran exchange of value between 2 or more parties where
each must get something and each must give something.
who documented "aloe" - correct answerLuca Pacioli
why did Luca like the equation? - correct answerit was simple, elegant, and symmetric
