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Classification Definitions

Match the term to the correct definition

AB
RevenueThe way a business earns its money
ExpensesShort-term costs in running the business
AssetsAnything of value that a business owns
LiabilitiesShort and long term loans
Owner's EquityThe money the owner invests in the business
Purchase RequisionInternal order to request the purchase of certain goods
Purchase OrderSent by the buyer to the supplier requesting certain goods
InvoiceSent by the supplier to the buyer, charging for goods


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