Accounting English PPT3－4.pptVIP

Accounting English Accounting English Principal difference in the owners’ equity Questions What are the liabilities? What are the owners’ equity? When the owners of a business withdraw cash, do the withdrawals appear as expenses on the income statement? Explain. List some examples of current liabilities and long-term liabilities. Lesson Three — Exercise Liabilities, or creditors’ equity ,are the obligations ,or debts, that the firm must pay in money or services at some time in the future . Lesson Three — Exercise Owners’ equity is defined as the differences between the assets and