U1 Review
Define the following terms: assets, liabilities, and equity.
Provide two examples of each of the following terms: assets,
liabilities, and equity.
Provide two examples of expenses a business might incur.
Read the items below and indicate whether the account type is
increased with a debt or credit.
_____ a. Asset
_____ b. Liabilities
_____ c. Equity
_____ d. Revenue
_____ e. Expenses
Classify each of the following items as assets (A), liabilities
(L), equity (EQ), revenue (R), or...