| A | B |
|---|
| Assets | dollar value of something owned |
| Liabilities | money owed |
| Owner's Equity | amount of money invested in business |
| Revenue | sales money coming into a business |
| Expenses | costs of doing business |
| Net Income | result of more revenue than expenses |
| Net Loss | result of more expenses than revenue |
| Balance Sheet | a snapshot of a business on a given day |
| Income Statement | a report showing income and expenses for a given time |
| Ass | an impropprer abbreviation for assets |
| Journal | a book of orignal entry |
| Account Title | the name of a ledger account |
