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Basic Accounting TerminologyBasic Accounting Terminology
Entity Event Transaction Voucher Entry Narration Assets Current Assets
Fixed Assets Tangible Assets Intangible Assets Liabilities Short - term liabilities Long - term liabilities Capital Drawings
Basic Accounting TerminologyBasic Accounting Terminology
Purchases Purchases Return Sales Sales Return Stock Raw Material Work – in - progress
Finished Goods Opening Stock Closing Stock Receivables Payables Expenditure Income
Basic Accounting TerminologyBasic Accounting Terminology
Expenses Gains Revenue Trading Account Gross Profit Gross Loss
Profit & Loss Account Net Profit Net Loss Balance Sheet Trade Debtors Trade Creditors